CURRO HOLDINGS LIMITED - Curro Further Extends Its Presents In KZN Voluntary Announcement

Curro Further Extends Its Presents In KZN – Voluntary Announcement

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 FURTHER EXTENDS ITS PRESENTS IN KZN – VOLUNTARY ANNOUNCEMENT

Curro Holdings, the JSE listed private schools group, has extended its presence in KZN further by acquiring a
top calibre private school, Grantleigh, located north of Empangeni and Richard Bay.

Grantleigh, situated on a school premises covering 15 hectare, provides education to just more than 700
learners in a primary and high school, supplemented by boarding facilities.

This follows the acquisition of two Durban based private schools, Embury College in Morningside and Hillcrest
Christian Academy situated in the suburb of Hillcrest in February 2012, as well as the KZN based Embury
Institute for Teacher Education (EITE) in March last year.

Curro Holdings CEO, Dr Chris van der Merwe, said Grantleigh is one of the top schools in KZN. With the size of
its premises, it provides Curro with the promising potential to extend the school substantially.

“The plan is to upgrade and modernise the boarding facilities, as well as the sporting grounds over time. We
also foresee additional classrooms for amongst other art and culture activities. This will provide room to
increase the school to about a 1 000 learners and to make the school more competitive in sport.

“Of great importance is the modern Grantleigh Titanium Learning Centre, sponsored by Richard Bay Minerals
with the aim to promote maths and science in the local community. Curro also intends to expand this facility
as part of its vision to advance maths and science literacy.

“Curro has acquired the school at an amount with the contractual obligation to spend the same amount on
upgrading the campus,” Van der Merwe said.

Acquisitions are an internal part of Curro’s business model and opportunities usually present themselves
where owners of a private schools want to retire. An important prerequisite is that the school should have the
same ethos as others in the group.

Grantleigh will operate under the Curro banner as a selected school with its brand name preserved, meaning
that the existing ethos will be maintained, as well as the value system and traditions of the school.

Dr Van der Merwe said that Curro is without doubt on its way to achieve its goal of 80 schools by 2020.
Grantleigh is Curro’s sixth major acquisition in the private schools market, including EITE. In January this year
Curro’s portfolio consisted of 25 schools. With the construction of 5 new schools this year and taking EITE and
Grantleigh into account, the total of Curro schools in operation as from January 2014 will be 32.

“Curro has opened its doors with 20 800 learners this year and current indications are that this number has
grown to 26 000,” Van der Merwe said.

End
Issued by MediaVision on behalf of Curro Holdings

Media enquiries

Dr Chris van der Merwe
Tel: (021) 979 1204/5
Cell: 082 463 9148
E-mail: chrisdr@vodamail.co.za

Gerhard Cloete
MediaVision
Cell: 083 300 6850
E-mail: gerhard@mediavision.co.za

Durbanville
9 December 2013

Sponsor and Corporate adviser
PSG Capital

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