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MBH Corporation Plc / Key word(s): Investment
MBH Corporation PLC ("MBH") announces the divestment of Parenta Group.
London, 26 May 2021 - MBH Corporation plc ("MBH") announces an amicable and mutual agreement to divest itself of the Parenta Group (Amplify Investments Ltd and its wholly-owned subsidiaries), subject to shareholder and regulatory agreement.
The key stakeholders have agreed it is in the current best interest of both parties to separate, primarily as a result of the on-going global economic situation. Accordingly, it is proposed that the management of Parenta Group will return the majority of the shares they were issued as initial consideration.
The total number of shares to be returned to MBH as treasury shares is 10 million. These shares will immediately be cancelled and will therefore reduce the total issue of MBH shares by 10m.
MBH has recently released its 2020 financial results and will be releasing its H1 2021 financials results in September of this year. The divestment of Parenta Group will not have a material impact on the financial results of MBH.
This proposal, to be voted at the AGM, is giving MBH the right, but not obligation, to go ahead with this divestment. It is also subject to regulatory approval.
Contacts for IR and media enquiries:
Information and Explanation of the Issuer to this News:
The Directors and stakeholders of MBH and Parenta Group take this opportunity to acknowledge the highly effective manner in which all parties have collaborated since joining; and the collaborative way they have partnered to implement the proposed divestment.
Callum Laing, CEO of MBH noted: ''We wish Parenta Group and their team every success in the future and thank them for their contribution to MBH. We will of course leave the door open for Parenta rejoining in the future should the situation change.'
About Parenta Group
Parenta is a UK based training provider within Early Years, offering apprenticeships from the start of a career and help develop the careers of those already working in childcare to management level. Parenta also provides software management solutions for child carers.
26-May-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
MBH Corporation Plc
Studio 7-9, Royal Patriotic Victoria Building, Joh
SW18 3SX London
Regulated Unofficial Market in Dusseldorf, Frankfurt
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