"COMPANY UPDATE38561The Board of Nord Anglia Education PLC ("NAE or the Group"), the education, training and childcare company (LSE: NAE), announces that it proposes to consolidate the Group´s head office operations into one location. As a result, the Group´s offices in Cheadle will be closed by the end of this calendar year, and NAE´s headquarters will be relocated to the Group´s offices in Burton. The move will enable the Group to integrate central procedures and systems. It is anticipated that improvements will be delivered in central communication and controls, the elimination of duplication and overlap of head office responsibilities and the realisation of significant efficiency synergies. The Cheadle offices, which are freehold and have an estimated open market value of £2.7m, will be sold.The Board of NAE also announces by way of an update that the Group is making satisfactory progress in its programme of disposing of non-core nurseries. In aggregate, thirteen small nursery units have been identified for sale and are being marketed on an individual basis through local agents. The units are sub-optimal and do not fit the profile of the Group´s core nursery estate. The aggregate open market value of the nurseries identified for sale is estimated to be between £2.0 million and £2.5 million and the first sales are expected to be completed before the end of the Group´s financial year. NAE´s management team is strongly committed to identifying and implementing measures to create shareholder value, and will issue a further update in conjunction with the pre-close trading statement in early September. For further information please contact
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