Malvern International Closes UK Schools, Singapore Classes Operational

Thu, 19th Mar 2020 18:37

(Alliance News) - Malvern International PLC on Thursday said that its UK schools will close from Friday until further notice as per government's order to close schools to limit the spread of Covid-19.

The company added that online courses and classes in Singapore are currently ongoing, but with strict health and safety measures in place to ensure the well-being of staff and students.

To date the company has largely seen a postponement of bookings and course start dates, rather than cancellations. However, the company is seeing minimal bookings at present due to the ongoing uncertainty.

Sam Malafeh, chief executive of Malvern, said: "We are keeping the business operating at much reduced levels in order to preserve cash and protect the business, and are in regular dialogue with our funders, who remain supportive. The board is conducting daily discussions to monitor the situation and regular updates are being provided to our staff and students. We will keep our investors updated on any further developments."

Shares in the school and colleges operator closed down 16% at 0.21 pence each in London on Thursday.

By Tapan Panchal; tapanpanchal@alliancenews.com

Malvern Intl