Learning Tree International, Inc. Announces Board Changes
July 02, 2018 at 08:33 am EDT
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On June 29, 2018, Learning Tree International, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with The David C. Collins 1997 Trust, The Mary C. Collins 1997 Trust, DCMA Holdings, L.P., The Adventures in Learning Foundation, The Collins Family Foundation, The Collins Family Trust, The Collins Charitable Remainder Unitrust No. 97-1, Dr. David C. Collins and Mary C. Collins (collectively, the “Collins Parties” which collectively represents the owners of a majority of the outstanding shares of common stock of the Company), and The Kevin Ross Gruneich Legacy Trust, as the buyer (the “Trust”). On June 29, 2018, Dr. David C. Collins and Mrs. Mary C. Collins, both directors on the Board, each provided a written resignation to the Company resigning as directors on the Board, including Dr. Collins resigning his position as Chairman of the Board, which resignations became effective upon the consummation of the Sale Transaction contemplated by the Purchase Agreement on June 29, 2018. The resignations of Dr. and Mrs. Collins were a closing condition of the Trust to consummate the Sale Transaction. Dr. Collins’ written resignation also included terminating his employment with the Company with immediate effect, which notice was accepted by the Company and effective on June 29, 2018. Effective as of June 29, 2018, Mr. Kevin Gruneich was appointed by the Board to fill the Class III director vacancy, which vacancy existed as a result of the resignation of Dr. Collins. Mr. Gruneich will stand for election at the Company’s 2019 annual meeting of stockholders along with the other Class III directors. The Board also appointed Mr. Gruneich to serve as the Chairman of the Board. Mr. Gruneich currently serves on the Board of The University of Iowa Center for Advancement and on its Investment Committee, as well as on the Advisory Board for Spy Hop Productions.
Learning Tree International, Inc. is a provider of learning solutions to support organizationsâ use of technology and effective business practices. The Company provides skills training and certification solutions to impact individual careers and organizational performance. The Companyâs courses include agile and scrum; business applications; cloud computing; cyber security; data, analytics and artificial intelligence; information technology (IT) infrastructure; IT service management; leadership; project management; and software. Its solutions include Coaching, Custom Content Solutions, Enterprise Solutions, Government Solutions, Learning Tree+ Advantage Plan, Learning Paths, Managed Training Services, Skills Assessments, Team Training, and Training Vouchers. Its certification courses include ITIL 4 Foundation Training, CompTIA Security+ Training, PMI Authorized PMP Exam Prep, Certified ScrumMaster Training, CISSP Training and Certification Prep Course, and others.
LEARNING TREE INTERNATIONAL, INC. 
