Australia, 1 August 2011 – Editure Limited (“Editure”) today announced that an investment company controlled by a group of major shareholders of Editure has agreed to acquire shares and provide a loan to Kip McGrath Education Centres Limited (“Kip McGrath”).  

Following the transaction, Editure and Kip McGrath plan to work together to capitalize on synergies and grow their businesses in key markets around the world.   Although this strategic alliance will pursue opportunities on a number of fronts, there will be a strong strategic focus on working together to expand in the United States market..

Kip McGrath is a leading international education company that is listed on the Australian Stock Exchange. Kip McGrath franchises education centres around the world that provide tutoring services to students.  Kip McGarth currently has approximately 600 franchised learning centres in Australia, New Zealand, the United Kingdom, South Africa and Asia. 

 Joe Ewart, Chief Executive Officer of Editure, stated “Kip McGrath has a long track record of success in the education industry and Kip McGrath learning centres have demonstrated their ability to improve student performance in a range of countries around the world.  Similar to Editure, Kip McGrath has successfully been able to expand its business internationally and to work across a number of markets simultaneously.  The business activities of Editure and Kip McGrath are highly complementary and this strategic alliance will allow us to capitalize on opportunities to jointly grow our businesses.   We look forward to working with the team at Kip McGrath.”

Pursuant to the terms of the transaction, the investment company has the right to nominate two directors for election to the board of directors of Kip McGrath.   Richard Ryan, Chairman of Editure, and Joe Ewart have been nominated for election to the Kip McGrath board of directors.