Business
Management Contract
Management Contract.
About this update from Malvern International Plc
[{"type":"text","content":"\n AEC Education plc\n25 April 2008\n\n\n25 April 08\n\n\n AEC Education plc\n\n ('AEC' or 'the Company')\n\n\n Announcement Management Contract\n\n\nAEC Edu Tech Sdn. Bhd., a wholly owned subsidiary of AEC Edu Group Pte Ltd which\nin turn is a wholly owned subsidiary of the Company, has, on 15 April, 2008\nentered into a Management Contract with Kasturi Management Consultancy Sdn. Bhd.\n('Kasturi') and IMS Professional Training Services Sdn. Bhd. ('IMS') whereby\nKasturi and IMS will pay an annual management services fee of MYR 60,000 per\nyear or 20% of the combined profits of Kasturi and IMS, whichever is higher, for\nthe next 4 years with effect from June 2007.\n\n\n\nThis Management Contract coincides with the acquisition by AEC of 30% of both of\nthese organizations also announced today and opens the opportunity for the\nprovision of the AEC Diploma and Degree courses offered in Singapore to be\nimplemented in Malaysia. It will also provide opportunities to cross-fertilize\nthe teams in both countries to build more comprehensive marketing and student\nrecruitment strategies.\n\n\n\n\n\n - END -\n\nFor further information please visit www.aeceduplc.co.uk or enquire to:\n\nMr David Ho\nAEC Edu Group Pte Ltd\nTel: (65) 64120718\nEmail: [email protected]\n\nNabarro Wells & Co Limited\nTel: +44 (0) 20 7634 4700\n\nDavid Nabarro, Natasha Reed\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1807,"tagName":"div"}]