Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

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We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

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You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


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Woodspeen Training Plc (WSTP)

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Monday 01 February, 2010

Woodspeen Training Plc




Woodspeen Training plc ("Woodspeen" or the "Company") is pleased to announce
that it has today completed the purchase of 100% of the issued share capital of
S&S Training Services Ltd ("S&S"), a private company operating in Huddersfield,
West Yorkshire that is focused on the Government sponsored vocational training

S&S was incorporated in 2001 and its principal business is the delivery of
`Apprenticeships' for 16-18 year olds and for adults. The company's focus is on
providing occupational programmes in Business Administration and in Information
Technology. S&S also runs `Entry to Employment' programmes targeted at
unemployed 16-18 year olds who are not currently either in education or in
other forms of training.

This business is complementary to that of Woodspeen's existing subsidiary, A&R
Training Services Ltd, as both run `Apprenticeship' programmes, albeit in
different occupational areas, and `Entry to Employment' programmes in West
Yorkshire. It is our intention to run both businesses as a combined operation
and to extract the benefits from the resulting synergies particularly in the
areas of administration and marketing.

S&S currently has some 110 learners studying on its various programmes and
employs some 12 full and part-time staff. In its last OFSTED inspection, in
February 2008, it achieved a grade 3 (satisfactory) rating. Its apprenticeship
framework achievement rates are well above the national average.

The aggregate consideration for the business is £505,000 payable in cash. Of
this sum £430,000 is payable at completion and the balance of £75,000 will bear
interest at the rate of 6% per annum and is payable in three equal instalments
of £25,000 each on 31 March, 30 June and 30 September 2010.

In addition Woodspeen will pay, on a £ for £ basis, for the net assets of S&S
in excess of £65,000 ("Excess Net Assets"). The level of the Excess Net Assets
is to be determined by reference to a set of completion accounts to be drawn up
as at 31 January 2010. Settlement is expected to be made before the end of
March 2010 and the amount to be paid is expected to be approximately £260,000.

The acquisition will be funded from the Group's cash resources.

S&S's turnover and operating profit for its last two financial years are
summarised below. These numbers have been extracted from (unaudited) financial
statements prepared by S&S's accountants. The breakdown of turnover has been
provided by S&S's management.

                                               Year Ended    Year Ended
                                                31 August     31 August
                                                     2008          2009
                                                    £'000         £'000
  Apprenticeships                                     306           358
  Entry to Employment                                  98           123
  Other                                                50            24
                                                    -----        ------
                                                      453           505
                                                    =====        ======
Operating profit before directors'
     remuneration and adjustments                     180           215
Adjustments re staff costs (see below)                (68)          (68)
                                                    -----         -----
Operating profit after adjustments                    112           147
                                                    =====         =====

The adjustments for both years above reflect the proposed new staffing and
remuneration arrangements that will be effective post acquisition.

In the Company's recent interim statement the Chairman, Charles Prior, stated
that the Company would concentrate on looking at the acquisition of businesses
which ran training programmes that were likely to continue to secure Government
funding. The Company believes that the acquisition of S&S, with its
Apprenticeship programmes for young people, fulfils this criterion.

The directors of Woodspeen Training plc take responsibility for this statement.


Woodspeen Training plc            Charles Prior 01488 608 341
                                  Lynn Chandler 020 8743 9172

Corporate Advisor
St Helens Capital Partners LLP    Oliver Cooke 020 7368 6959

Fairfax I.S. PLC                  Ewan Leggat/Laura Littley 020 7598 5368


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