Divestment of education group
2 May 2025
NZX Wellington
NZX:BAI Company Announcement
BAI divests education group
Being AI Limited (NZX:BAI) is pleased to advise that it has divested its education group, Being
Education, to Crimson Education Group. This strategic move eliminates from the group education
group debt of approximately $3.9m due to Wilshire Treasury, and related trading liabilities, resulting in
a significantly strengthened balance sheet for BAI.
This transaction is a result of the ongoing strategic review of the BAI group by the BAI Board. The
review of Being Education concluded that, without considerable further investment, the operations
were unlikely to yield a future positive return. Therefore, divestment was determined to be in the best
interests of maximising value for all BAI shareholders.
In turn, the schools and their communities will benefit from Crimson Education Group’s proven and
innovative approach to education.
BAI Chair, Michael Stiassny noted that the strategic review of remaining BAI group entities is ongoing
with further market announcements anticipated in due course.
[ends]
This announcement has been authorised by BAI Board Chair, Michael Stiassny.
For further information, in the first instance please contact:
Mike Dunshea
BAI Group Secretary
Mobile 027 579 8687
mike.dunshea@beingai.group
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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