Directors' Additional Disclosures

RNS Number : 1534J

AEC Education plc

11 July 2013

 

AIM: AEC

AEC Education plc

("AEC" or "the Group")

Directors' Additional Disclosures

AEC, the educational programmes provider, makes the following additional disclosures in relation to two of its directors under Schedule 2 paragraph 2(g) of the AIM Rules for Companies:

Liam Joseph Swords and David Ho Peng Cheong were both directors of Malvern House Training Solutions Limited ("MHTS"), a subsidiary of AEC, which appointed joint liquidators on 29 May 2013 following a meeting of that company's creditors pursuant to s98 of the Insolvency Act. When it ceased to trade, MHTS had external liabilities of £299,857 (20.2% of total liabilities) and amounts due to Group companies totalling £1,182,304 (79.8% of total liabilities); total liabilities were  £1,482,161. Assets held when MHTS ceased to trade are expected to realise c. £15,000.

For clarity, it should be noted that this disclosure has no associated impact on either reported figures or management budgets for 2013.

There are no further disclosures required under Schedule 2 paragraph 2(g) of the AIM Rules for Companies.

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