AEC Education plc AEC College in Singapore (6323Z)
February 10 2014 - 2:00AM
UK Regulatory
TIDMAEC
RNS Number : 6323Z
AEC Education plc
10 February 2014
AEC Education PLC
("AEC" or the "Company")
AEC College in Singapore
Further to the announcement made by the Company on 13 January
2014, following the assessment by Singapore's Council of Private
Education ("CPE") of AEC's college in Singapore relating to the
reinstatement of its EduTrust certificate, CPE has concluded that
AEC did not meet all of the criteria for reinstatement of the
certificate. AEC can choose to reapply and the Board is currently
reviewing the requirements to be met and the potential financial
impact on the Company before applying for reassessment.
In the meantime the Board has decided to relocate the financial
and administration functions for the region to Kuala Lumpur where
they already have a presence under the brand Malvern International.
In addition, the Company is undertaking a restructuring of its
Sales and Marketing so that responsibility for Eastern Europe,
Western Europe and South America will be centred in London, and
responsibility for Africa, the Middle East and Asia will be centred
in Kuala Lumpur. The Board expects these changes to provide cost
benefits to the AEC group as well as allowing greater focus on
regional revenue growth and profit objectives.
For more information please contact:
Enquiries:
AEC Education PLC Tel: +44 (0) 7725 836811
Liam Swords
WH Ireland Limited (NOMAD) Tel: +44 (0)161 832 2174
Dan Bate/Andrew Kitchingman
Biddicks Tel: +44 (0) 20 3178 6378
Katie Tzouliadis
This information is provided by RNS
The company news service from the London Stock Exchange
END
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