As Nursery World went to press, David Alexander, chief executive of Creative Education, confirmed that shareholders were due to vote on the issue at the company's Extraordinary General Meeting on 29 December.
Mr Alexander said, 'We'll be hoping to make further announcements very soon. We have quite a firm plan of acquisitions and openings in early January.'
Creative Education already owns a 29.2 per cent stake in Academy and is attempting to buy the remaining 70.8 per cent of Academy shares for Pounds 1.55m.
To do this it will issue just under 31 million new Creative Education shares at five pence per share and offer a cash option to Academy shareholders who want it.
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