16 Mar 2009 15:30
AEC Education plc
(the "Company")
Result of general meeting
Placing, Directors' Dealings and Notice of Interest
The Company announces that all resolutions put to shareholders at today's general meeting have been duly approved.
The Placing
The Company announces that it has raised, in aggregate, £1,050,596.04 through the placing of 8,754,967 new ordinary shares of 10p each in the Company ("Ordinary Shares") at 12p per share (the "Placing"). The net proceeds from the Placing, together with other sources of finance, will be used to finance potential acquisition opportunities.
Application has been made for 8,754,967 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 17 March, 2009 ("Admission"). On Admission, the Company will have 26,763,705 Ordinary Shares in issue.
Directors' Dealings and Notice of Interest
Pursuant to the Placing, the Company can confirm the following interests in Ordinary Shares:
| Name | Ordinary Shares acquired in the Placing | New shareholding | Percentage of the enlarged share capital |
| Director | | | |
| KSP Investments Pte Ltd (1) | 2,486,300 | 7,802,348 | 29.15% |
| Liam Swords | 1,000,000 | 1,000,000 | 3.74% |
| Ramasamy Jayapal | 59,084 | 633,131 | 2.37% |
| | | | |
| Investor | | | |
| Education Development International plc | 1,000,000 | 3,000,000 | 11.21% |
| Real Time Consultancy Ltd | 1,106,250 | 1,450,000 | 5.42% |
(1) David Ho and Gopinath Pillai, both directors of the Company, hold 44% and 19.5%, respectively, of KSP Investments Pte Ltd.
For further information contact:
AEC Education plc
Liam Swords Office: +44 (0) 20 8308 1202
Mobile: +44 (0) 7775 787 427
WH Ireland Limited
David Youngman / Adrian Kirk +44 (0)161 832 2174
Malvern Intl (MLVN)