Raffles Education cancels interim dividend

The cancellation was in the light of the Group's overall loss for the financial year ended 30 June 2012.

The board of directors of Raffles Education Corporation Limited made reference to the announcement dated 8 February 2012 in respect of the unaudited financial statements of the Group for the six months ended 31 December 2011. Under paragraph 11 of the results announcement, the company had declared an interim dividend of 0.5 cents per ordinary share in the company.

However, following the recent loss, the board has resolved that it would be prudent and in the best interests of the company that the interim dividend should be cancelled.

The disposal was approved by the company's shareholders at the Extraordinary General Meeting held on 31 August 2012.

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