LONDON (ShareCast) - (ShareCast News) - Learning Technologies Group announced a new supplier agreement with RWS Holdings on Monday.
The AIM-traded company had set out in its admission document at the time of its re-admission to AIM in November 2013 that historically purchased translation services from RWS, and has continued to do so, since that time, on arms length commercial terms.

"In accordance with good corporate governance, supplier arrangements are reviewed from time to time," its board said in a statement.

"As part of this process, the independent directors have undertaken a review of the supply of translation services and has asked four leading translation providers, including RWS, to tender for this work."

Following the review, LTG said RWS was selected to continue providing translation services under a new three year contract.

Andrew Brode, non-executive chairman of LTG, is also chairman of and a substantial shareholder in RWS, and as a result the arrangements represent a related party transaction.

In addition, both Andrew Brode and chief executive Jonathan Satchell comprise a concert party by virtue of their shareholdings in LTG.

Jonathan Satchell and Andrew Brode together hold 51.86% of the company's issued share capital.

The other directors of LTG - the independent directors - are outside of this concert party, the board said.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE