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Wey Education plc

Wey Education registrations are 40% higher than last year for Interhigh

Wey Education (LON:WEY), the educational services group, announced this morning that it is to appoint Barry Nichols-Grey as Finance Director (Designate) and Company Secretary.

Barry is a Chartered Accountant who qualified at PWC. He previously worked for the FSA in London and currently is the Finance Director of Dezrez Services Limited, a provider of Cloud based software.

Barry will be based in Wey Education’s administrative centre in Wales and will head up the Company’s finance function as well as becoming Company Secretary. Barry is expected to take up his appointment in April 2018.

As previously reported the acquisition of Academy 21 Limited completed immediately before Christmas. Since the start of the year the Company has merged the marketing team of Academy 21 with Wey’s B2B team, a programme has been put in place to streamline accounting and billing and plans have been established to transition pupils and teachers at Academy 21 to Wey’s state of the art learning platform over the summer. A further update on progress with the acquisition will be given with Wey’s interim results.’

The company is still evaluating the response to its enhanced marketing campaign which included last week’s major advertising at Waterloo Station. Given the long lead time for enrolments for students into the 2018/19 academic year it is likely to be many months before the impact can be fully assessed. The Company is pleased to note separately that registrations to Interhigh for the first two weeks of January were 40% higher than those for the corresponding period in 2017.

Wey Education announces that John Bridges, a Non-Executive Director, has notified the Company that on 17 January 2018 he sold 33,333 ordinary shares of 1 pence each in the Company (“Ordinary Shares”) at a price of 30.2 pence per Ordinary Share.

Following this transaction, further detailed below, Mr Bridges’ interest in the share capital of the Company is now 500,000 Ordinary Shares, representing 0.4 per cent. of the Company’s issued share capital.

The below notification made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:

 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------- 
 a)   Name 
                                   John Bridges 
---  -------------------------  ----------------------------- 
 2    Reason for the notification 
---  -------------------------------------------------------- 
 a)   Position/status            Director 
---  -------------------------  ----------------------------- 
 b)   Initial notification       Initial Notification 
---  -------------------------  ----------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  -------------------------------------------------------- 
 a)   Name                       Wey Education plc 
---  -------------------------  ----------------------------- 
 b)   LEI                        2138009M9659SXKA3I32 
---  -------------------------  ----------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  -------------------------------------------------------- 
 a)   Description of 
       the financial               Ordinary shares of 1p each 
       instrument, type 
       of instrument               GB00B54NKM12 
---  -------------------------  ----------------------------- 
 b)   Nature of the              Sale 
---  -------------------------  ----------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    30.2p      33,333 
                                   ---------  ---------- 
---  -------------------------  ----------------------------- 
 d)   Aggregated information 
       - Aggregated volume         33,333 
       - Price                     GBP10,066.56 
---  -------------------------  ----------------------------- 
 e)   Date of the transaction    17 January 2018 
---  -------------------------  ----------------------------- 
 f)   Place of the transaction   London Stock Exchange, AIM

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.