News: ACO Australian Careers Network provides company update

Jan 18 (Reuters) - Australian Careers Network Ltd (ACO) :

• Company received notification of a determination by the Australian Government Department of Education and Training
• "DET made no other negative findings in respect of phoenix's compliance with any other vet quality and accountability requirements"
• Notification that advance vet fee-help payments in sum of $40 million that had previously been deferred to 15 January would not be paid
• "Company is reassessing its operations and business strategies pending the outcome of the federal court proceedings"
• Co also advises that it has renegotiated the terms of completion of its acquisition of SmallPrint and Catapult