CURRO HOLDINGS LIMITED - Rights Offer Results

Rights Offer Results

Curro Holdings Limited
Incorporated in the Republic of South Africa
(Registration number: 1998/025801/06)
JSE Share Code: COH
ISIN: ZAE000156253
(“Curro” or “the Company”)

CURRO RIGHTS OFFER RESULTS

Shareholders are referred to the announcements published on the
JSE Limited Stock Exchange News Service on 30 March 2016 and 8
April 2016 and the circular dated 19 April 2016 (“Circular”)
relating to the Curro rights offer to raise R1 070 603 325
(“Rights Offer”). In terms of the Rights Offer, Curro offered
32 442 525 new Curro ordinary shares (“Rights Offer Shares”) to
qualifying Curro ordinary shareholders in the ratio of 9.09091
Rights Offer Share for every 100 Curro ordinary shares held on the
Rights Offer record date, being Friday, 22 April 2016. PSG
Financial   Services  Limited   (“the  Underwriter”)   irrevocably
undertook to follow its rights entitlement and to underwrite the
balance of the Rights Offer.

The results of the Rights Offer, which closed on Friday, 13 May
2016, are as follows:

                               Number of Rights       % of Rights
                                 Offer Shares         Offer Shares
Rights Offer Shares available        32 442 525              100%
for subscription
Rights Offer Shares subscribed       31 074 141               95.8%
for by Curro shareholders
Rights Offer Shares to be             1 368 384                4.2%
issued to the Underwriter

Shareholders who have subscribed for Rights Offer Shares are
referred to the section of the Circular titled “Action Required by
Shareholders” in connection with determining the date on which
they will receive their Rights Offer Shares.

AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2015

Shareholders are referred to Curro’s reviewed provisional results
for the year ended 31 December 2015 released on SENS on 23
February 2016 (“Results Announcement”) and the subsequent update
to the provisional results for the year ended 31 December 2015
released on SENS on 18 April 2016.

Shareholders are hereby advised that the Company’s deferred tax
asset and liability balances disclosed in the audited financial
results for the year ended 31 December 2015 have been modified to
be consistent with those balances previously disclosed in the
Results Announcement. The relevant modifications had no impact on
reported profitability, equity or cash flows.

Accordingly, the Company’s consolidated deferred tax asset and
liability balances at 31 December 2015 amounted to Rnil (2014:
Rnil) and R189 million (2014: R166 million), respectively.

Shareholders are hereby advised that the Company’s audited
financial statements for the year ended 31 December 2015 are
available at www.curro.co.za.

Durbanville
16 May 2016

Sponsor
PSG Capital

Date: 16/05/2016 09:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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