March 24 (Reuters) - Intueri Education Group Ltd (IQE) :
- Intueri to exit Australia early; focus on NZ schools
- Intueri will cease operations in Australia on 29 march 2017
- Decision is in response to recent funding and regulatory developments which have had a material impact on Australian operations
- This has no impact on group's New Zealand operations.
- Intueri board is considering whether to appeal against decision on 2016 vfh funding cap uplift
- Intueri has entered into a standstill agreement with its bank
- Decision has no impact on group's New Zealand operations, which are run as a separate regional division
- Company has elected not to appeal ASQA's decision, and will therefore cease australian operations on 29 march 2017
- Is assessing a number of capital restructuring and strategic options for group, including a potential divestment of businesses
- Has been advised that its application to department of education and training to reconsider a A$5.6m uplift in 2016 vet fee-help funding has been declined
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