Malvern International looks forward to new year as consolidates shares

Wed, 02nd Nov 2022 13:05

(Alliance News) - Malvern International PLC on Wednesday said it expects student intake for the new year to be ahead of 2022's, as it confirmed major share restructuring plans.

The London-based learning and skills development company said that, based on deposits, it expects this January's student intake for University Pathways to be "significantly ahead" this past January's intake.

Malvern said this is the product of "strategic investment over the last two years" in sales and marketing, management team and processes within the University Partnerships structure.

Results from the British Council inspection of its Language in Action junior programmes were "excellent", Malvern said, and put the company in "the top quartile of inspections in the industry". It noted that these results will make marketing easier.

The board believes Malvern in a "strong position" to grow its market share in 2023 and beyond.

The company also held a general meeting on Wednesday in which shareholders confirmed plans to consolidate its 2.19 billion existing shares into 21.9 million shares. The new shares are expected to start trading on AIM on Thursday.

The closing mid-market share price on Tuesday was 0.095 pence, which would be equivalent to a price of 9.5p per new share.

Shares in Malvern International were trading 4.0% lower at 0.091 pence each in London on Wednesday afternoon.

By Chris Dorrell; chrisdorrell@alliancenews.com

Malvern Intl