DGAP-News

MBH COMMITS FURTHER TO EDUCATION WITH 11TH ACQUISITION OF 2020 AS FAST GROWING ACADEMY ONE GROUP JOINS PORTFOLIO

DGAP-News: MBH Corporation Plc / Key word(s): Investment MBH COMMITS FURTHER TO EDUCATION WITH 11TH ACQUISITION OF 2020 AS FAST GROWING ACADEMY ONE GROUP JOINS PORTFOLIO 26.11.2020 / 11:00 The issuer is solely responsible for the content of this announcement. MBH COMMITS FURTHER TO EDUCATION WITH 11TH ACQUISITION OF 2020 AS FAST GROWING ACADEMY ONE GROUP JOINS PORTFOLIO

London, 26 November 2020, MBH Corporation plc (MBH), a diversified investment holding company, bolsters its largest vertical, education, with their acquisition of Academy One Group, a leader in sports education programmes. This is MBH's 11th acquisition of 2020 to date and brings MBH's education vertical to a total of 10 companies, growing the pro-forma revenues of the MBH group companies to GBP 102m for the financial year 2020.

MBH today grows its largest vertical yet further with the 100% acquisition of Academy One Group, MBH's 11th acquisition for the year so far. Academy One Group is a well recognised training organisation with a primary focus on sports education programmes in partnership with colleges, professional and semi professional football clubs. They also have deep expertise in Traineeship programmes in sports coaching and Apprenticeships in a wide variety of sport, business and health pathways.

Academy One started 7 years ago with just 25 students and has now grown to over 750 students across its extensive range of programmes. With the UK being one of Europe's largest national fitness markets boasting total annual revenues of over EUR 5.5billion^[1] the stage is set for further future growth for Academy One Group.

For the year ending 31 March 2020 Academy One Group generated revenues of GBP 3.7m. With this acquisition, the pro-forma revenues of the MBH portfolio companies grow to GBP102m for the financial year 2020. The estimated earnings per share growth as a result of this acquisition is approximately 1.1%.

The estimated total consideration for the acquisition is approximately GBP2.0m to GBP 3.0m. The consideration will be finalised once the 31 December 2020 audit has been completed. The majority of the consideration will be paid fully in unlisted bonds in MBH Corporation plc and would convert to listed bonds upon completion of audited accounts. The terms of the listed and unlisted bonds are as follows: