Conversion of Loan into Convertible Loan Note
Malvern International plc (AIM: MLVN), the provider of educational services in the UK, Europe and Asia, announces that it has agreed with KSP Investments Pte Ltd (“KSP”), one of its major shareholders, that KSP’s existing unsecured interest free loan of £1.2 million be converted into a convertible loan notes (“CLN”). The CLNs are unsecured and will be interest free until 31 December 2017. From 1 January 2018 the CLNs will attract interest at a rate of 3%, rising to 4% from 1 January 2019 and 5% from 1 January 2020. The CLNs are convertible into ordinary shares at a price of 5p. If not previously converted, the CLNs will be repayable on […]
Completion of Acquisition
Further to its announcement of 26 October, Malvern International plc (AIM: MLVN), provider of educational services in the UK and Asia, is pleased to announce that it has today completed its acquisition of the entire issued share capital of SAA Global Education Centre Pte. Ltd. Application has been be made for the 5,630,350 new ordinary shares of 5p each in Malvern being issued pursuant to the acquisition of SAAGE to be admitted to trading on AIM. Dealings are expected to commence on 13 November 2017. In accordance with the provisions of the Disclosure, Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the acquisition of […]
