![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Creative Educ | LSE:CEC | London | Ordinary Share | GB0032667916 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.10 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6659E Creative Education Corp Plc 29 October 2004 The Creative Education Corporation Plc ("CEC" or "Company") is pleased to announce that, further to the announcement on 3 August 2004, it has today substantially completed the acquisition of the business and assets of the partnership trading as Happy House Educational Care ("HHEC"). The acquisition was conditional on the receipt of certain written consents, orders, clearances, authorisations or exemptions and consents to assign leasehold property. As at the date of this announcement all of these have been received other than a licence to assign the lease relating to the property used by the Little Ducklings Day Nursery, a 48 place nursery in Woodley, Berkshire. Therefore the acquisition of the Little Ducklings Day Nursery has yet to be completed, but the acquisition of the other nurseries detailed in the announcement of 3 August 2004 have now been completed. The directors of CEC hope to complete the acquisition of the Little Ducklings Day Nursery prior to 31 December 2004. The aggregate consideration paid was #2,197,504.77, satisfied as to #2,097,504.77 in cash and #100,000 by the issue of 1,919,386 new ordinary shares of 1 penny each in CEC at an issue price of 5.21 pence per share, such price having been calculated in accordance with the asset purchase agreement as the average closing price of ordinary shares during the seven dealing days up to and including the third dealing day prior to today's date. Application has been made for these consideration shares to be admitted to trading on AIM with effect from 3 November 2004. In order to assist in the financing of the acquisition, Conduit Square Limited ("Conduit") has, pursuant to the terms of the asset purchase agreement and at the requirement of CEC, acquired the two freehold properties at Crowthorne and Reading from HHEC for a cash consideration of #1,593,679 and has entered into a 30 year leasehold agreement with CEC on each of these two properties. Details of the leases are set out in the announcement dated 3 August 2004. Therefore the cash consideration paid by CEC as part of the above aggregate consideration was #503,825.77. Furthermore, the Company has entered into a loan agreement with Conduit, pursuant to which Conduit has lent the company an aggregate of #583,363.50. The purpose of the loan was to finance the cash consideration paid by CEC, stamp duty and professional fees. The loan is interest free and unsecured and is repayable upon demand. Conduit is controlled by Laurence Davis and John Baker, who are both current directors and shareholders in CEC. As such the loan agreement described above is considered to be a transaction with a related party for the purposes of the AIM Rules. The directors of CEC, other than John Baker and Laurence Davis, have considered the terms of the loan agreement between the Company and Conduit and, having consulted with Corporate Synergy Plc, nominated adviser and broker to the Company, consider it to be fair and reasonable insofar as shareholders are concerned. Further information Laurence Davis 020 7409 7878 This information is provided by RNS The company news service from the London Stock Exchange END ACQEAKENALALFFE
1 Year Creative Education Chart |
1 Month Creative Education Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions