22 Jan 2018 07:00
22 January 2018
WEY EDUCATION PLC
("Wey Education" or the "Company")
Appointment of new Finance Director (Designate) and Company Secretary
Update on Academy 21 acquisition and marketing campaign
Director/PDMR Shareholding
Wey Education (AIM: WEY), the educational services group, announces that it is to appoint Barry Nichols-Grey as Finance Director (Designate) and Company Secretary.
Barry is a Chartered Accountant who qualified at PWC. He previously worked for the FSA in London and currently is the Finance Director of Dezrez Services Limited, a provider of Cloud based software.
Barry will be based in Wey Education's administrative centre in Wales and will head up the Company's finance function as well as becoming Company Secretary. Barry is expected to take up his appointment in April 2018.
As previously reported the acquisition of Academy 21 Limited ("Academy 21") completed immediately before Christmas. Since the start of the year the Company has merged the marketing team of Academy 21 with Wey's B2B team, a programme has been put in place to streamline accounting and billing and plans have been established to transition pupils and teachers at Academy 21 to Wey's state of the art learning platform over the summer. A further update on progress with the acquisition will be given with Wey's interim results.'
The company is still evaluating the response to its enhanced marketing campaign which included last week's major advertising at Waterloo Station. Given the long lead time for enrolments for students into the 2018/19 academic year it is likely to be many months before the impact can be fully assessed. The Company is pleased to note separately that registrations to Interhigh for the first two weeks of January were 40% higher than those for the corresponding period in 2017.
Wey Education announces that John Bridges, a Non-Executive Director, has notified the Company that on 17 January 2018 he sold 33,333 ordinary shares of 1 pence each in the Company ("Ordinary Shares") at a price of 30.2 pence per Ordinary Share.
Following this transaction, further detailed below, Mr Bridges' interest in the share capital of the Company is now 500,000 Ordinary Shares, representing 0.4 per cent. of the Company's issued share capital.
The below notification made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
|
John Bridges | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Wey Education plc | ||||
b)
| LEI
| 2138009M9659SXKA3I32
| ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 1p each
GB00B54NKM12
| ||||
b)
| Nature of the transaction
| Sale | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
33,333
£10,066.56
| ||||
e)
| Date of the transaction
| 17 January 2018 | ||||
f)
| Place of the transaction
| London Stock Exchange, AIM | ||||
Enquiries:
Wey Education Plc +44 (0) 207 518 9700
David Massie (Executive Chairman) +44 (0)7785 957958
WH Ireland Limited
(Nominated Advisor and Broker)
Mike Coe/Ed Allsopp (Corporate Finance) +44 (0) 117 945 3470