Lateral are proud to announce Aquaint Capital Holdings Limited (ASX: AQU) has signed a conditional agreement to acquire 100% of our partner, Schrole Group Ltd (Schrole).
Schrole Group provides online services and consultancy for the education sector. It was developed by education professionals for education professionals. Its three online services are Schrole Connect, Schrole Cover and Schrole Develop that help both domestic and international schools with recruiting, care, development services, staff management, accredited training services and consulting.
Schrole’s innovative, technology-based recruitment platforms and consulting service solutions are already in use by schools and teachers in over 30 countries around the world, with a particular focus on Australia, Asia, the Middle East and Europe.
The business activities of Schrole include major global opportunities for business development with scope to further develop a diversified series of multiple revenue streams through its individual business units.
In March 2016, Lateral acquired shares in Schrole Group as equity partners. This partnership has assisted Schrole Group to deliver a superior service to its client base and has been a great leap forward for Lateral’s future in the technology industry.
"Investing in a sector that is set to double in size in the next ten years was a key strategic move for Lateral’s future " says CEO of Lateral, Tommy Shin. “As the current fifth biggest shareholder, I am personally looking forward to this listing as Schrole Group have a fantastic story and robust technology behind them built by Lateral.”
Schrole intends to undertake a capital raising under a prospectus to raise up to $5.5m by way of an offer of shares. The company intends to use the funds raised from the Public Offer to further commercialise and grow the market share of Schrole’s products and services. Further details of capital raising will be announced to the market and provided to shareholders for approval.