ADVTECH LIMITED - Result of Annual General Meeting

Result of Annual General Meeting

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

Annual General Meeting

ADvTECH Limited held its annual general meeting this morning in Sandton in terms of the notice of
annual general meeting dated 17 March 2014. All the ordinary and special resolutions proposed at
the meeting were duly passed by the requisite majority of votes. Special resolution number 3 was
withdrawn at the commencement of the meeting.


In a statement issued after the meeting, the Chairman reported that:
       -Initial student enrolment for the 2014 academic year is largely complete.
            o   Schools’ Division enrolments have been satisfactory.       The four new schools that
                opened at the beginning of this year have exceeded their enrolment target by more
                than 6%, while Trinityhouse Little Falls continues to experience rapid growth in
                student numbers;
            o   Tertiary Division has experienced strong student number growth due to further
                improvement in student retention rates and excellent growth in first year enrolments at
                Rosebank College. Consolidation and repositioning in the lower LSM segments of the
                division has been well accepted, leading to a significant increase in student numbers,
                albeit at a lower average fee per student.
       -Good progress continues to be made in implementing the Group’s R3 billion capital
        investment plan. In this regard, almost R 500 million has been invested since the plan was
        first made public in mid-2013, while new projects amounting to some R 550 million have been
        added to maintain the forward project value at approximately R3 billion.
       -The project pipeline includes 20 significant individual projects, together with smaller
        investments which are typically additions to existing assets. The capital intensive nature of
        schools means that they dominate the list which is split by project as follows – Schools 15,
        Tertiary 3 and Technology 2.
       -The board is satisfied both with the process adopted for the appointment of a replacement
        CEO and with the progress made thus far. A promising candidate list sourced both internally
        and externally is under review and a further announcement will be made in due course.

The Chairman thanked Hymie Levin, who retired after serving as a director of the Group for 27 years,
and wished him well in his retirement. Hymie, who was instrumental in the listing of the Group in
1987, intends spending more time with his wife and family, and travelling.

Johannesburg
27 May 2014
Sponsor: Bridge Capital Advisors (Pty) Limited

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