Dec 31 (Reuters) - iCollege Ltd ICT.AX :
* During review of MIA operations the iCollege executive has discovered a number of inconsistencies with what was portrayed of the business prior to its acquisition
* Says restructure of franchisee operations scheduled for January 2016
* "Board has also taken the view that additional payments to the vendor of mia are not justifiable given the inconsistencies discovered"
* "Board has proposed that a formal mediation be held promptly to resolve these issues"
* Source text for Eikon ID:nASX9HPqc9