16 Mar 2009 15:36
EDUCATION DEVELOPMENT INTERNATIONAL PLC
Shareholding in AEC Education plc
Education Development International plc ('EDI'), the leading provider of educational qualifications and assessment services, announces that it has acquired shares in AEC Education plc ('AEC') the Singapore based holding company specialising in education services.
EDI has purchased 1,000,000 ordinary shares in AEC at a total cost of £120,000 as part of a placing by AEC announced on 27 February 2009. This brings EDI's total holding in AEC to 3,000,000 shares representing 11.2% of the enlarged issued share capital. EDI's original holding of 2,000,000 shares was taken as consideration for the sale of EDI's holding in Educational Resources Pte Ltd ('ER') as announced on 3 December 2007 and 11 January 2008.
ER is wholly owned by AEC and is EDI's agent for the provision of marketing and customer support services to schools and colleges in Asia which offer EDI's range of LCCI international business qualifications. ER and EDI staff work together closely on business development and operational activities.
LCCI International Qualifications have a strong position in the business education market in South East Asia. EDI and AEC are currently reviewing options for increased investment in joint market development activities through ER including partnerships with government agencies in Malaysia, Hong Kong and Guangzhou in southern China.
For further information please contact:
| Education Development International plc | Parkgreen Communications Limited |
| Nigel Snook - Chief Executive | Paul McManus |
| Paul Bird - Finance Director | Tel: 020 7933 8787 |
| Tel: 024 7651 6510 | Mob: 07980 541 893 |
| http://www.ediplc.com | paul.mcmanus@parkgreenmedia.com |
| Brewin Dolphin Limited | |
| Matt Davis/Neil McDonald | |
| Tel: 0845 213 4851 |
Malvern Intl (MLVN)