Company Website:
http://learningtree.com
RESTON, Va. -- (Business Wire)
As reported in Learning Tree International, Inc.’s (NAS: LTRE) (the
"Company" or "Learning Tree") Form 8-K dated January 31, 2013, the
Special Committee of the Board of Directors received a letter from Dr.
Collins, Chairman and Chief Executive Officer of the Company,
withdrawing his offer to purchase all of the outstanding shares of the
Company. Dr. Collins has indicated to the Special Committee that he
believes that the Company's focus at this time should be on its
operations in light of the current business environment and that he does
not support the Company pursuing a sale process. The Company's second
largest stockholder has indicated to the Committee that he is supportive
of Dr. Collins' view not to pursue a sale process. In light of the
foregoing, the Committee has concluded that a sale of the Company is not
feasible at this time and should not be pursued.
About Learning Tree International
Established in 1974, Learning Tree International is a global provider of
hands-on IT and management training. Learning Tree develops, markets and
delivers a broad, proprietary library of instructor-led courses focused
on: web development, IT security, project management, operating systems,
databases, networking, software development, leadership, management and
business skills. Courses are offered at Learning Tree Education Centers
and training locations around the world, on-site at client facilities,
or via the Internet with Learning Tree AnyWare™, the
company’s web-based, remote-attendance platform. For more information
about Learning Tree products and services,
call 1-888-THE-TREE (1-888-843-8733), or visit the Learning Tree Web
site at www.learningtree.com.
Forward-looking Information
This Press Release contains forward-looking information within the
meaning of The Private Securities Litigation Reform Act of 1995. Please
do not put undue reliance on these forward-looking statements, since
they are based on key assumptions about future risks and uncertainties.
Although Learning Tree believes that its assumptions are reasonable,
inevitably some will prove to be incorrect. As a result, Learning Tree's
actual future results can be expected to differ from those in this
release, and those differences may be material. Learning Tree is not
undertaking any obligation to update forward-looking statements. In
order to help the reader assess the major risks in Learning Tree's
business, Learning Tree has identified many, but not all, of these risks
in Item 1A, "Risk Factors" in Learning Tree's Annual Report on Form 10-K
("Item 1A"). Please read that exhibit carefully. Some of the factors
discussed in Item 1A that could affect Learning Tree include the
following: risks associated with the timely development, introduction,
and customer acceptance of Learning Tree's courses; competition;
international operations, including currency fluctuations; changing
economic and market conditions; technology development and new
technology introduction; efficient delivery and scheduling of Learning
Tree's courses; adverse weather conditions, strikes, acts of war or
terrorism and other external events; and attracting and retaining
qualified personnel.
Contacts:
Learning Tree International
Max Shevitz, 703-925-5590
President
max_shevitz@learningtree.com
Source: Learning Tree International