ADVTECH LIMITED - ADVTECH makes it first move into the rest of Africa

ADVTECH makes it first move into the rest of Africa

ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
Share code: ADH ISIN: ZAE000031035
("ADvTECH" or “the Company”)


ADVTECH makes it first move into the rest of Africa


The board of ADvTECH is pleased to announce the acquisition of the Gaborone International
School (GIS) in Botswana for BWP 70m (R84m). This is ADvTECH’s first acquisition outside of
South Africa and is in line with the Group’s growth strategy of investing in leading and established
school brands.


GIS was founded in 1993 and purchased by Mr Chow in 2007. GIS follows the Cambridge
education syllabus and caters from crèche to Form 4. GIS has a track record of excellent
academic outcomes, strong student demand and profitability.


GIS currently has 1 800 students, with capacity for 2 300 students and sufficient space on the
existing campus to build additional classrooms. The proposed acquisition is subject to approval of
the Botswana Competition Authority.


Commenting on the acquisition, Leslie Maasdorp, CEO of ADvTECH said: “Following on from the
acquisitions of Centurus, Kathstan and Maravest, this transaction progresses our plans to expand
into other emerging markets and into lower-fee schools. GIS aligns to our promise to deliver
quality private education to students outside of South Africa’s borders.”


Craig Chow, owner and outgoing Chairman of GIS said: “Following an extensive review of
possible partners, we are delighted that ADvTECH will lead the next phase of GIS’ growth. As a
leader in the private education market, ADvTECH brings the right values, significant expertise
and back office experience in providing quality private education to Botswana.”


GIS will fall into the newly established ADvTECH Academies brand. The schools under
ADvTECH Academies will service their local communities and retain their own identity and ethos,
whilst operating autonomously and maintaining their own brands. They will offer a range of
curricula and a variety of fee options.


The current GIS education, management team and student’s curriculum will remain unchanged.

1 December 2014
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited
Advisor to GIS: NineXI Capital Consulting (Pty) Limited (info@ninexi.co.za)

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