ADVTECH LIMITED - CEO of ADvTECH Announces Retirement

CEO of ADvTECH Announces Retirement

ADvTECH Limited

(Incorporated in the Republic of South Africa)

(Registration number 1990/001119/06)

Share code: ADH         ISIN: ZAE000031035

(“ADvTECH“ or "the Company")



CEO OF ADvTECH ANNOUNCES RETIREMENT


The Board of ADvTECH advises shareholders that Frank Thompson has notified the Board of his
intention to stand down as CEO of the Group by 31 December next year.


This extended notice period will facilitate an orderly and well-planned transition process in accordance
with the Group’s best interests and the requirements of sound corporate governance. The Board plans
to make an appointment and implement a handover well in advance of Frank stepping down in order
to ensure a smooth transition. Succession planning at senior levels of the business is a critical
component of the Board’s responsibilities and the time will be used to implement a rigorous selection
process which will include both internal and external candidates.


Commenting on behalf of the Board, the Chairman, Leslie Maasdorp, said: “The Board expresses its
warm appreciation of Frank’s leadership of ADvTECH over the past 11 years. During his stewardship,
the Group has been transformed. Our schools and colleges continue to set the highest of standards
and the Group now holds leading positions in the provision of education and staffing throughout South
Africa.   In signalling his intention to stand down by the end of next year, we are able to ensure an
orderly and effective handover."


Frank Thompson said: “It has been a pleasure and privilege to lead ADvTECH over this time. We
have a great team of professionals at every level in our group and I am very proud of all they do for
our students and employment candidates. The Group’s roll out of new investments, which now total
R3 billion, will deliver exciting real growth through the next decade. I look forward to continuing
working with my colleagues next year at the same time as we achieve a successful management
transition.”



Johannesburg
2 December 2013
Sponsor: Bridge Capital Advisors (Pty) Limited

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