MAYFIELD CHILDCARE LIMITED

MAYFIELD CHILDCARE LIMITED (ASX: MFD)

The Independent Forensic Report found that $374,713 was misappropriated from Mayfield Childcare Limited during the Investigation Period by a former senior employee/director.
The misappropriated funds appear to have been used for works at two residential properties owned by the Former Employee and at two Childcare Centres connected to them.
Mayfield Childcare is taking legal action and pursuing recovery options for the misappropriated funds with the help of external legal advisors King & Collins.

2023-03-29 10:08:00

Mayfield Childcare Limited (ASX:MFD) has commissioned an independent forensic investigation following the Company's review of historical supplier payments.
The investigation identified misappropriations by a former employee of the Company, relating to funds paid for goods or services not related to childcare centres owned and operated by the Company.
The Company has engaged external legal advisers and made demand on the Former Employee; KordaMentha's investigation is expected to continue for several weeks, with the Company providing a further update if necessary.

2023-02-28 10:06:00

Mayfield Childcare Limited has completed the acquisition of a childcare centre in Cairns, Queensland.
The acquisition is funded from existing debt facilities, with a total purchase price of $1.07m and is expected to generate $214k EBITDA in CY23.
Mayfield now own and operate 36 centres across Queensland, Victoria and South Australia.

2023-02-08 13:52:00