Malvern International Sells Malaysian Business For GBP75,000

Mon, 23rd Dec 2019 13:29

(Alliance News) - Shares in Malvern Intentional PLC jumped on Monday after the learning and skills development company said it sold its Malaysian business for MYR400,000, or around GBP75,000.

Shares in AIM-listed Malvern were up 54% at 1.00 pence in London on Monday.

Malvern on Monday said the cash will be payable over a 13 month period and will be used towards the repayment of an existing bank loan in Malaysia. The company expects the transaction to complete on December 31.

"We are pleased to have agreed the sale of the Malaysian business, which will now allow us to focus on growing our core operations in the UK and Singapore," Chief Executive Officer Sam Malafeh said.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Malvern Intl