CFO Fredrik Åkerman has decided to leave Internationella Engelska Skolan in early 2020

Fredrik Åkerman, CFO of Internationella Engelska Skolan (IES) since 2013, has today announced that he has decided to leave the company to take on a position as CFO of the translation company Semantix. Fredrik will remain in his current position during his notice period or until an alternative solution is in place. The recruitment process to find a new CFO will commence immediately.

Cecilia Marlow, interim CEO, said: “During his six years at IES Fredrik has been a key person in IES’s success and development. He has been CFO during a time when we have gone from being privately owned to being listed on the stock exchange and from having 20 schools in Sweden to 37 schools in Sweden and five in Spain. Though Fredrik has a few months left at IES, the board and I would like to thank him greatly, and warmly wish him good luck in his new assignment.”

Fredrik Åkerman said: “I have been at IES during a very exciting time. It is a company with many dedicated and professional employees and IES will continue to grow and develop quickly also going forward. After six years I feel it is time for me to move on to new challenges.”

For more information, please contact:

Emma Rheborg, Head of Communication and IR, IES
Telephone: +46 (0)768 511 540
E-mail: emma.rheborg@engelska.se

This is information that Internationella Engelska Skolan i Sverige Holdings II AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the above contact, at 08:30 CET on 4 November 2019.

About Internationella Engelska Skolan

Internationella Engelska Skolan, IES, is one of the leading free school operators in Sweden with some 26,800 students at 37 schools, and about 2,500 students at its schools in Spain.

IES Sweden conducts school operations from “förskoleklass” (grade F) up to the third and final year of upper secondary school (grade 12). Its main focus is grades 4-9, what is often called “middle school.” Within the compulsory school system in Sweden, IES is the leading independent operator, with 17 of the 20 largest free schools. The academic results of IES schools on the national tests in grade 9 are far above average in Sweden.

Internationella Engelska Skolan was founded in 1993 and is in its 27th year of operation. Throughout this period, its schools have been defined by the three core convictions of its founder, Mrs. Barbara Bergström:

• A safe and orderly environment, where teachers can teach and students learn.
• To command the English language − the key to the world.
• High academic expectations and aspirations.

Up to half of teaching is conducted in English by teachers whose native language is English. Over 800 teachers with qualified foreign teaching degrees are currently teaching in IES schools. They are mainly recruited from Canada, the USA, the UK and South Africa.

The IES student base is growing strongly. Over the past ten years, total operating income has increased by an average of 19% per year. In the most recent financial year 2018/19, which concluded on 30 June 2019, total operating income was MSEK 2,781.1, an increase of some 18% year on year. As of 30 June 2019, there were approximately 191,700 applications in the queue to secure a place in the Swedish schools for the current and forthcoming years.

Internationella Engelska Skolan has been listed on Nasdaq Stockholm Mid Cap, with the ticker ENG, since 2016.

The largest (indirect) shareholders of IES are TA Associates of the US, which has close affiliations to leading universities and trusts in the US, Barbara Bergström, the founder of IES, and Paradigm Capital AG through different funds. At the end of September 2019, the 10 largest shareholders also included Swedbank Robur fonder and AMF Försäkring & Fonder (owned jointly by LO, the Swedish Trade Union Confederation and the Confederation of Swedish Enterprise).