<SEC-DOCUMENT>0001654954-19-001691.txt : 20190219
<SEC-HEADER>0001654954-19-001691.hdr.sgml : 20190219
<ACCEPTANCE-DATETIME>20190219063137
ACCESSION NUMBER:		0001654954-19-001691
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190219
FILED AS OF DATE:		20190219
DATE AS OF CHANGE:		20190219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PEARSON PLC
		CENTRAL INDEX KEY:			0000938323
		STANDARD INDUSTRIAL CLASSIFICATION:	BOOKS: PUBLISHING OR PUBLISHING AND PRINTING [2731]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16055
		FILM NUMBER:		19613329

	BUSINESS ADDRESS:	
		STREET 1:		80 STRAND
		CITY:			LONDON ENGLAND
		STATE:			X0
		ZIP:			WC2R 0RL
		BUSINESS PHONE:		442070102000

	MAIL ADDRESS:	
		STREET 1:		80 STRAND
		CITY:			LONDON ENGLAND
		STATE:			X0
		ZIP:			WC2R 0RL
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a2892q.htm
<DESCRIPTION>DISPOSAL
<TEXT>
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UNITED STATES<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">For the
month of <font style="font-weight: bold">February
2019<br></font></font></div>
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PEARSON plc</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Exact
name of registrant as specified in its charter)<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">N/A<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Translation
of registrant's name into English)<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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80 Strand<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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London, England WC2R 0RL</font></div>
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<font style="font-family: Times New Roman">&#x2028;</font>44-20-7010-2000</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Address
of principal executive office)<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the Registrant files or will file annual
reports</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">under
cover of Form 20-F or Form 40-F:<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Form
20-F
X&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;Form 40-F<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the Registrant by furnishing the
information</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">contained
in this Form is also thereby furnishing the information to
the</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Yes&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;No X</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
<font style="color: #0D0D0D">18</font><font style="font-size: 70%; vertical-align: top; color: #0D0D0D">th</font><font style="color: #0D0D0D">&#xA0;February
2019</font></font></div>
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<font style="color: #0D0D0D; font-family: Times New Roman; font-size: 13px">
London</font></div>
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&#xA0;</font></div>
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&#xA0;</font></div>
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<font style="font-weight: bold; color: #007FA3; font-family: Times New Roman; font-size: 24px">
Press Release</font></div>
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<font style="color: #0D0D0D; font-family: Arial; font-size: 7px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #007FA3; font-family: Times New Roman; font-size: 16px">
Pearson makes further progress on its simplification strategy with
the sale of its US K12 courseware business.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Pearson today completes another major milestone in its
simplification programme with the announcement of the sale of its
US K12 courseware business to Nexus Capital Management LP (Nexus)
for headline consideration of $250m. Total proceeds comprise an
initial cash payment of $25m and an unconditional vendor note for
$225m expected to be repaid in three to seven years. Following the
repayment of the vendor note, Pearson is entitled to 20% of all
future cash flows to equity holders and 20% of net proceeds in the
event the business is sold. This additional consideration has been
structured to provide Pearson with the potential to capture future
upside in the US K12 courseware adoptions market over the coming
years. &#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
This disposal is an important part of our ongoing work to become a
simpler and more efficient company, focused on fewer, bigger
opportunities that contribute towards growth and our digital
transformation. It will greatly simplify our ongoing technology,
systems and office rationalisation. The broader US K12 market
remains an important area of focus for Pearson and we are
continuing to invest in faster growing digital services such as
virtual schools and building on our strong position in US student
assessment.&#xA0; We will continue to provide Higher Education
courseware for Advanced Placement programmes in K12
schools.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
Pearson's US K12 courseware business provides textbooks and
instructional resources&#xA0;to help teachers and students at every
stage of K12 learning in the United States. &#xA0;It employs
approximately 1,330 people. The US K12 courseware business had
gross assets of &#xA3;648m and net assets of &#xA3;75m as at 31
December 2018 and generated around &#xA3;364m of revenue and
approximately &#xA3;20m</font><font style="font-size: 70%; vertical-align: top; color: #000000">1</font><font style="color: #000000">&#xA0;of
adjusted and statutory operating profit in
2018.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The transaction is expected to complete at the end of the first
quarter of 2019 and cash proceeds generated in due course will be
used for general corporate purposes.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
John Fallon, Pearson's chief executive, said:&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
"School publishing in America has been an important part of Pearson
for many years, and what it does matters to teachers and students
across the country. We're pleased to have found new owners who are
committed to its future, and we wish it every success.&#xA0; The
sale frees us up to focus on the digital first strategy that will
drive our future growth. Through our assessment, virtual school,
advanced placement and career and technical education programmes,
we will still serve schools across America and we will now be
better placed to focus on the areas in which we can best help their
students to be successful in their studies and future
careers</font><font style="color: #000000; background-color: #FFFFFF">."</font><font style="font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px; background-color: #FFFFFF">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; background-color: #FFFFFF; font-style: italic; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Barclays and Citi acted as financial advisors and Morgan, Lewis
&amp; Bockius acted as legal advisors to Pearson on this
transaction.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Kirkland &amp; Ellis acted as legal advisor to Nexus on this
transaction.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; background-color: #FFFFFF; font-style: italic; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Notes:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
1. Statutory adjusted operating profit post IFRS15. This equates to
around &#xA3;11m of profit pre IFRS15.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; background-color: #FFFFFF; font-style: italic; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
About Pearson</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">
Pearson is the world's learning company, with expertise in
educational courseware and assessment, and a range of teaching and
learning services powered by technology. Our mission is to help
people make progress in their lives through learning. We believe
that learning opens up opportunities, creating fulfilling careers
and better lives. For more, visit:&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">www.pearson.com/corporate</font><font style="color: #0563C1; font-size: 13px">.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
About Nexus Capital Management LP</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Nexus is an alternative asset investment management company based
in Los Angeles, California that was founded in 2013.&#xA0; Nexus
employs a flexible investment mandate that focuses on long-term
value creation by partnering with leading management teams and
businesses.&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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For more information on Nexus, please
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T: + 44 (0)20 7010 2310</font></div>
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Investors:</font><font style="color: #000000">&#xA0;Jo Russell, Tom
Waldron, Anjali Kotak</font></font></div>
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International media:</font><font style="color: #000000">&#xA0;Tom
Steiner</font></font></div>
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US media:</font><font style="color: #000000">&#xA0;Laura Howe +1
202 748 3284</font></font></div>
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Ends</font></div>
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SIGNATURE</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.<font style="font-family: Times New Roman">&#x2028;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">PEARSON
plc</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date:&#xA0;<font style="font-weight: bold">18
February 2019</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">By: /s/
NATALIE WHITE</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Natalie
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<font style="font-family: Times New Roman; font-size: 13px">Deputy
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