AEC Education plc
25 April 2008
25 April 08
AEC Education plc
('AEC' or 'the Company')
Announcement Management Contract
AEC Edu Tech Sdn. Bhd., a wholly owned subsidiary of AEC Edu Group Pte Ltd which
in turn is a wholly owned subsidiary of the Company, has, on 15 April, 2008
entered into a Management Contract with Kasturi Management Consultancy Sdn. Bhd.
('Kasturi') and IMS Professional Training Services Sdn. Bhd. ('IMS') whereby
Kasturi and IMS will pay an annual management services fee of MYR 60,000 per
year or 20% of the combined profits of Kasturi and IMS, whichever is higher, for
the next 4 years with effect from June 2007.
This Management Contract coincides with the acquisition by AEC of 30% of both of
these organizations also announced today and opens the opportunity for the
provision of the AEC Diploma and Degree courses offered in Singapore to be
implemented in Malaysia. It will also provide opportunities to cross-fertilize
the teams in both countries to build more comprehensive marketing and student
recruitment strategies.
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For further information please visit www.aeceduplc.co.uk or enquire to:
Mr David Ho
AEC Edu Group Pte Ltd
Tel: (65) 64120718
Email: davidho@aec.edu.sg
Nabarro Wells & Co Limited
Tel: +44 (0) 20 7634 4700
David Nabarro, Natasha Reed
This information is provided by RNS
The company news service from the London Stock Exchange