CURRO HOLDINGS LIMITED - Voluntary Announcement: Curro Strengthens Its Presence Further In Kzn With The Acquisition Of St Dominics

Voluntary Announcement: Curro Strengthens Its Presence Further In Kzn  With The Acquisition Of St Dominics

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”)

VOLUNTARY ANNOUNCEMENT: CURRO STRENGTHENS ITS PRESENCE FURTHER IN KZN
WITH THE ACQUISITION OF ST DOMINICS

Curro Holdings, a JSE listed independent schools group, has further
strengthened its presence in KwaZulu-Natal (KZN) with the acquisition
of one of the oldest independent schools in the country, the 123 year-
old St Dominic’s in Newcastle.

St Dominic’s will be the 41st independent school carrying the Curro
flag. With this Curro has reached its objective in its prelisting
statement of 40 schools by 2020 five years earlier. This vision has in
the meantime shifted to 80 Curro schools by 2020.

The transaction is for an undisclosed amount, but includes an
undertaking by Curro to provide the school with an Astro Turf and
additional sports facilities, as well as a heated swimming pool. Curro
will also further develop existing facilities in order to accommodate
future growth and to allow for an increase in the number of learners
from the current 560 to about 900.

Announcing the transaction, Curro CEO Dr Chris van der Merwe said that
the Curro brand is already well established in KZN with the acquisition
of Durban based Embury College and Hillcrest Christian Academy in
February 2012, the Embury Institute for Teacher Education (EITE) in
March 2013 and Grantleigh in December 2013.

Curro also established Curro Mount Richmore in Ballito, Durban earlier
this year and added a high school facility to the existing Hillcrest
campus.

Dr Van der Merwe emphasised that St Dominic’s Academy Newcastle will be
incorporated into the group as a select Curro school. “Because of great
respect for the school’s ethos, traditions and history of 123 years,
the name of the school will only be changed to Curro St Dominic’s New
Castle over time.
“By adding new facilities, we want to build on the school’s proud
heritage as one of the top independent schools in KZN. This is not only
for the school as such, but also for the community that it serves,” Van
der Merwe said.

The St Dominic’s transaction will bring the total number of Curro
learners in KZN to about 5 000.

“Curro is currently well positioned to achieve its target of 80 schools
by 2020 as previously stated. There is enough opportunities available
to consistently grow at a pace of 7 to 10 new Curro campuses per year,”
Van der Merwe said.

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
2 December 2014

Sponsor and Corporate adviser: PSG Capital (Proprietary) Limited

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