Alpha Plus Holdings PLC Statement in relation to potential share sale (7514C)

TIDMALP2

RNS Number : 7514C

Alpha Plus Holdings PLC

14 June 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("EUWA")) ("UK MAR").

ALPHA PLUS HOLDINGS PLC

(the "Issuer)

GBP130,000,000 5.00 Per Cent. Secured Sterling Bonds due 31 March 2024 (the Bonds)

STATEMENT

The Issuer has been made aware that on 14 June 2023, its shareholder, DV4 Holdings Alpha Plus Co. Limited (the Shareholder) entered into a sale and purchase agreement with Inspired UK Holdings Limited (the Purchaser) regarding the sale of all of the shares in the Issuer to the Purchaser (the Share Sale).

The Issuer understands that completion of the Share Sale is expected to occur within a matter of months, subject to satisfaction of certain limited conditions to closing and depending on unforeseen complications. Following the Completion Date, each Charging Company (other than the Issuer) will remain a wholly-owned, direct or indirect subsidiary of the Issuer. The Issuer has been made aware by the Shareholder and the Purchaser that, on the Completion Date, the Purchaser (as the shareholder of the Issuer on and following the Completion Date) intends to direct the Issuer to give notice to redeem the Bonds, in accordance with Condition 5(c) (Redemption at the option of the Company) and the provisions of the Trust Deed.

Prior to consummation of the Share Sale, the assets relating to DLD College London, Abbey College Cambridge and Abbey College Manchester (together, the Colleges and such assets, the College Assets) will be transferred to an affiliate of the Issuer, such that the College Assets will (upon consummation of the Share Sale) be retained under the ownership of the Shareholder. The College Assets do not form part of the Charged Assets and the entities that own the College Assets and operate the Colleges are not Charging Companies.

This announcement is released by ALPHA PLUS HOLDINGS PLC and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the UK Market Abuse Regulation, encompassing information relating to the Notes described above. For the purposes of the UK Market Abuse Regulation, this announcement is made by Jim Bowden, Chief Financial Officer of Alpha Plus Holdings PLC.

Media enquiries: Dido Laurimore, FTI Consulting, Tel: 020 3727 1000

Ends

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END

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June 14, 2023 11:58 ET (15:58 GMT)

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