Malvern International PLC Collaboration Agreement (8416T)
11 January 2017 - 6:00PM
UK Regulatory
TIDMMLVN
RNS Number : 8416T
Malvern International PLC
11 January 2017
11 January 2017
MALVERN INTERNATIONAL PLC
("Malvern" or the "Company")
Collaboration Agreement
Malvern International plc (AIM: MLVN), the provider of
educational services in the UK, Europe and Asia, is pleased to
announce it has entered into a collaboration agreement with
Playware Studios Private Limited ("Playware") whereby Malvern will
be able to act as an exclusive sales and marketing partner and
distributor for some of Playware's educational related IT and
technology products. In addition, pursuant to the agreement Malvern
will receive IT advice which will enable Malvern to fast track some
of its IT projects. In return Malvern will pay Playware a royalty
on sales receipts achieved on Playware related products, the level
of which will vary depending on the nature of the product.
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
Malvern is allowed to offer the agreed Playware courses and
programmes in all of its locations. The agreement not only allows
the use of the products by Malvern but also enables Malvern to act
as an IT related educational supplier by having an exclusive right
to distribute some of Playware's products. These products include
those of web-based and mobile applications that are in demand. The
above projects are expected to help Malvern target a wider market
in 2017, generate higher revenue and improve its competitive
advantage.
Playware (www.playwarestudios.com) is a Singapore-based
technology company specialising in the development of gaming for
educational purposes. Its products and solutions have been adopted
by a variety of corporate, government and educational institutions
in Singapore and it has been the recipient of industry awards for
its innovative offerings. Playware is owned and controlled by KSP
Limited, which is a substantial shareholder in Malvern. For this
reason the Collaboration Agreement is classified as a related party
transaction for the purposes of AIM Rule 13. The independent
directors, being directors not associated with KSP Limited,
consider, having consulted with WH Ireland Limited, the Company's
nominated adviser, that the terms of the collaboration agreement
are fair and reasonable insofar as the Company's shareholders are
concerned.
Commenting Sam Malafeh, Deputy CEO of Malvern, said: "We are
delighted to have entered into this agreement which allows us to
access to Playware's innovative and internationally award winning
products and courses. Access to the various Playware offerings will
significantly expand the scope of our offering as an international
education company and will help propel Malvern into the digital
age. Malvern's offering will now include cutting-edge technology
(gaming, virtual reality, mobile applications) in addition to
existing teaching and courses."
ENDS
Contacts:
Malvern International www.malverninternational.com
plc
Haider Sithawalla +65 64120733
Dr Sam Malafeh +65 83860155
WH Ireland Limited Nominated Adviser &
Broker
Mike Coe, Ed Allsopp +44 (0) 117 945 3470
Further information on Playware
Playware was established in 2005 as a games studio, focused on
the development of technology and content for mainstream
entertainment games. With a portfolio of learning games used across
different sectors and industries, including the Public Service,
National Schools and Education, Healthcare, Nursing, Advertising
and Communication, Professional Education, Defense, Corporate
Training and Talent Development, Playware's ambition is to bring
games to classrooms and training everywhere in the world.
To this end, Playware worked with the Singapore Ministry OF
Education, NRF and IDA to pioneer 3DHive, a complete game-based
learning and practice platform that allows users to quickly create,
share, play 3D games on popular desktop and mobile devices.
The technology (patented in about 50 countries) has won several
awards, including the ASEAN ICT Gold Awards 2016 for Digital
Content, InnovPlus Flame Award 2016 for Skills Development from WDA
Singapore, Brandon Hall Silver Medal for Best Advance in Gaming or
Simulation Technology 2015, Brandon Hall Bronze Medal for Best
Advance in Mobile Learning Technology 2015, apart the Inaugural
IDA-Bett Asia Edtech Innovation award in 2014 and the Microsoft
Public Sector Education Partner of the Year Finalist award in
2013.
Specifically, in the fields of Serious Games, Adult and
Corporate Learning Playware has worked with the Civil Service
College (Singapore), Singapore Airlines, National Council for
Social Services (Singapore), Bayer, Caterpillar, SAP and Ogilvy
& Mather in diverse fields such as teamwork, leadership,
advertising, managerial accounting, logistics and supply chain
management, Retail Sales, computer science etc.
Find out more about Playware on Linkedin, Facebook, Twitter,
Youtube or Google+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 11, 2017 02:00 ET (07:00 GMT)
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