announcement response to accc media release

For those interested, announcement responding to the ACCC just eleased:

19 June 2008
ASX ANNOUNCEMENT
A.B.C. LEARNING CENTRES LIMITED (ASX:ABS)
RESPONSE TO A.C.C.C. MEDIA RELEASE
A.B.C. Learning Centres Ltd (“ABC”) has, this morning, received a copy of proceedings instituted by the ACCC in the Federal Court. This relates to the Undertaking provided by ABC in 2004 for the purchase of Peppercorn Management Group Limited. The Undertaking required ABC to divest eight centres and cease management of 13 other centres. ABC has divested six centres and ceased to manage all 13 centres.
ABC has been in discussions with the ACCC regarding the sale of two centres in Geraldton, Western Australia since December 2004. The discussions included extensions of time to comply with the Undertaking due to the difficulty of divesting the centres in this location.
ABC continues to use its best endeavours to divest the two centres the subject of the proceedings and will continue its dialogue with the ACCC with a view to resolving this matter.
ABC is disappointed that the ACCC has escalated this issue without prior notice.
ABC would like to emphasis that this matter relates to the sale of two centres only and does not impact upon the business operations of ABC. ABC confirms that there are no other outstanding issues with the ACCC.
ABC confirms that the centres in question remain open and that as always our children and families remain our first priority.