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Voluntary Announcement pertaining to the Acquisition of Strategic Vacant Land and an update on student numbers
STADIO HOLDINGS LIMITED
(Previously Embury Holdings Proprietary Limited)
(Incorporated in the Republic of South Africa)
Registration number: 2016/371398/06
JSE share code: SDO
ISIN: ZAE000248662
(“STADIO” or “the Company”)
VOLUNTARY ANNOUNCEMENT PERTAINING TO THE ACQUISITION OF STRATEGIC
VACANT LAND IN THE WESTERN CAPE AND AN UPDATE ON CURRENT STUDENT
NUMBERS
1. ACQUISITION OF STRATEGIC VACANT LAND IN THE WESTERN CAPE
The Board of Directors of STADIO is pleased to advise shareholders that the
Company, through its wholly-owned subsidiary Stadio Corporate Services Proprietary
Limited (“Purchaser”), has entered into a sale agreement on or about 25 May 2018, in
terms of which the Purchaser will acquire vacant land located in Durbanville of
approximately 7.8446 hectares (“the Property”), as part of its plans to roll out a new
campus (“the Acquisition”).
STADIO intends to develop the Property with the aim of opening the doors of its new
campus in 2021. It is anticipated that the new campus will accommodate several
faculties, including Education, Commerce, Law and the Creative Industries (including,
fashion design, advertising, marketing and communication and the film industry), as
well as future faculties to be developed and acquired by STADIO. In this regard it is
noted that STADIO is actively exploring the feasibility of developing a School of
Engineering and a Health, Sciences and Medical School, the establishment of which
still requires further engagement with various role-players, including the Council for
Higher Education (CHE), the South African Qualifications Authority (SAQA), the
Department of Higher Education and Training (DHET) and other professional councils.
It is further envisaged that the new campus will accommodate between 4 000 and
5 000 contact learning students over time. STADIO will also embark on the registration
of several distance learning programmes to support its vision of widening access to
higher education.
STADIO intends to fund the Acquisition through existing cash resources and bank
funding.
The Acquisition is subject to various conditions precedent and is uncategorised in
terms of the JSE Listings Requirements. As such, the information contained in this
announcement has been voluntarily disclosed by STADIO.
2. UPDATE ON CURRENT STUDENT NUMBERS
Shareholders are referred to a previous announcement released on SENS on
26 October 2017, confirming that the acquisition of LISOF Proprietary Limited
(“LISOF”) was concluded, effective 1 January 2018, and to an announcement released
on 22 March 2018, confirming that the acquisition of MBS Education Investments
Proprietary Limited (“Milpark”) was successfully implemented on 19 March 2018.
Taking into account the first semester intake of students across the STADIO Group
(including the students of LISOF and Milpark), STADIO is pleased to inform
shareholders that student numbers are currently approximately 26 500. Considering
the second semester intake and further anticipated acquisitions by STADIO, student
numbers could reach 30 000 by the end of 2018.
Durbanville
4 June 2018
Transaction Advisor and Sponsor
PSG Capital
Date: 04/06/2018 08:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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