Sharenet Sites 
Sharenet Sites
ADH - ADvTECH Limited - Result of Annual General Meeting and voluntary Trading Statement ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 ("the Group") RESULT OF ANNUAL GENERAL MEETING AND VOLUNTARY TRADING STATEMENT Annual General Meeting Shareholders are notified that at the annual general meeting of shareholders held earlier today, all the ordinary and special resolutions proposed were duly passed by the requisite majority of votes. Amongst other matters, the new Memorandum of Incorporation was adopted by the meeting and will be lodged for registration with CIPC in due course, the Audit Committee was appointed, the appointment and initial meeting of the Transformation, Social and Ethics Committee was noted and the directors` fees and the remuneration policy were approved. Voluntary Trading Statement In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited, the Board of ADvTECH Limited hereby announces that earnings per share and headline earnings per share for the Group for the period ended 30 June 2012 is expected to be between 2% and 10% lower than for the prior comparative period. The Group has experienced modest aggregate revenue growth in 2012 to date, with pleasing enrolments in the Schools Division and encouraging progress in Resourcing. Enrolment numbers so far at some tertiary campuses have been lower than expected and will lead to an under recovery of operating costs at these sites and in the division. Steps are being taken to mimimise the impact of the lower enrolments at the campuses concerned. The continuing strength of the Group`s statement of financial position and cash flow enables the directors to remain confident in the expansion strategy and long term growth of the Group. With regard to the Group`s expansion strategy the accelerated capex programme in the Schools Division is gaining momentum and shareholders are advised of the following projects: * Trinityhouse Little Falls - Construction of the second phase is progressing well. The Primary School will open in 2013. * Trinityhouse Palm Lakes - A new school will open at Palm Lakes, KZN, in 2013 and construction is on schedule. * Trinityhouse Heritage Hill - Construction of a new school at Heritage Hill, near Centurion, Pretoria, will commence in 2013. The school will open in 2014. The financial information on which this trading statement is based has not been reviewed or reported on by the Group`s auditors. Johannesburg 22 May 2012 Sponsor: Bridge Capital Advisors (Pty) Limited Date: 22/05/2012 12:58:22 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
