Business
Board Appointment
Board Appointment.
About this update from Malvern International Plc
[{"type":"text","content":"\n RNS Number : 9635U AEC Education plc 02 July 2009 \n \n2 July 2009\nAEC\nAEC EDUCATION PLC\n('AEC Education' or the 'Company')\n\nBoard Appointment\n\nThe Directors of AEC Education are delighted to announce the appointment to the Board of Naresh Malhotra, co-founder and managing director of Malvern House Group Limited ('Malvern House'), as an Executive Director of the Company with immediate effect. This follows the announcement today of the acquisition of Malvern House, the London-based educational courses provider. \n\nNaresh Kumar Malhotra, aged 57, co-founded Malvern House in 1999 and has been managing director of the business since then. As managing director, Naresh has led the successful development of Malvern House into a highly regarded provider of English Language Learning and Business courses for international students. \n\nPrior to establishing Malvern House, Naresh worked within major international companies in the manufacturing and services sectors. He has also provided non-executive support to a number of companies which include pet food, packaging and paint producers.\n\nNaresh will continue to lead Malvern House as its chief executive officer, heading the integration with AEC Education. Under the terms of his service agreement, Naresh's appointment can be terminated on 12 months' written notice by either party and he will be paid a salary of £110,000 per annum. In addition, Naresh shall be entitled to receive a bonus depending on certain targets being met. \n\nNaresh is currently a director of the following companies:\n\nMalvern House Group Limited\nMalvern House International Limited\nMalvern House Marketing Limited\nLearning Developments Overseas Limited\n\nThere is no further information required to be disclosed in relation to Naresh pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.\n\nFollowing the acquisition of Malvern House by AEC Education, Naresh holds 2,625,750 ordinary shares of 10p each in the Company ('Ordinary Shares') and his wife, Julia Malhotra, holds 1,308,000 Ordin...