On 13 August 2008 A.B.C. Learning Centres Limited (“ABC”) announced that it had agreed the principal terms for the sale of Busy Bees Childcare Vouchers Limited, its UK voucher business, for GBP90 million to Computershare Limited, the ASX listed provider of share registry and related services. The transaction successfully completed on 1 September (UK time). Proceeds from the transaction will be used to reduce debt under the Company’s syndicated bank facility agreement. Profit from the sale will be in line with previous guidance (Note 1). The sale process for the UK nurseries business is ongoing.
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