Spectra Training signs Heads of Agreement with Academies Australasia

Friday, June 27th

In an exciting development for our company and the Australian vocational training sector, Spectra Training today signed a Heads of Agreement with Academies Australasia (AKG).

Academies Australasia is a 105 year old company that has been listed on the Australian Stock Exchange for 36 years. It owns or controls 14 different educational providers across NSW, Victoria, Queensland and Singapore. Its website is www.academies.edu.au

Under the terms of the proposed deal, which is subject to final due diligence and regulatory consents, AKG will acquire the shares in Spectra and Spectra’s shareholders will be issued shares in AKG.

Christopher Campbell, Group Managing Director of Academies Australasia, said: We first diversified into the domestic market three years ago. Spectra has an excellent reputation. It will give us a footprint in every state in Australia, a high quality entry position into the Apprenticeships training sector and bring us additional management depth and experience. We are particularly delighted that Gary Cobbledick, shareholder and Managing Director of Spectra, will be entering into a long-term contract with the AKG group, for the next four years.

Gary Cobbledick, shareholder and Managing Director of Spectra added: My partner Raphael Geminder and I saw AKG as the ideal group within which Spectra can continue to grow. It has a reputation for careful and steady growth in training and education, which is a vital sector in the economy. We look forward to contributing to, and being part of, AKG’s future.