CURRO HOLDINGS LIMITED - Voluntary Announcement and Notice: Increased Funding for Expansions and Improvement

Voluntary Announcement and Notice: Increased Funding for Expansions and Improvement

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 AND NOTICE: INCREASED FUNDING FOR EXPANSIONS AND
IMPROVEMENT TO CURRO MERIDIAN SCHOOLS VENTURE AND PROFESSIONAL SOURCING
PROCUREMENT ASSIST PROPRIETARY LIMITED

The board of directors of Curro (“the Board”), as is usual where a group
operates through a holding company, decided at its meeting held on 28
November 2014, to provide loans totaling R7.4 million for purposes of
further expansions and improvements to Campus and Property Management
Company Proprietary Limited (“CAPMAC”) (a subsidiary of the Company) and
Professional Sourcing Procurement Assist Proprietary Limited (“PSPA”) (an
associate of the Company).

The disclosure contained herein merely constitutes the obligatory
notification to shareholders in terms of section 45(5) of the Companies
Act, 71 of 2008, as amended (“Companies Act”) which requires that the
Company inform shareholders when financial assistance exceeding one tenth
of one percent of the Company’s net worth is granted to a related or
inter-related entity of the Company.

Accordingly, notice is hereby given in terms of section 45(5) of the
Companies Act that the Board authorised the Company to provide financial
assistance to CAPMAC and PSPA, as set out above, pursuant to the authority
granted to the Board by shareholders at the annual general meeting of the
Company, held on 20 June 2014.

The Board, prior to authorising the aforementioned financial assistance
considered and satisfied itself, in terms of section 45 of the Companies
Act, that:

1.   immediately after providing the financial assistance, the Company
     would satisfy the solvency and liquidity test as contemplated in
     section 4 of the Companies Act;

2.   there has been due compliance with the with the Company’s memorandum
     of incorporation; and

3.   the terms of the financial assistance are fair and reasonable in
     relation to the Company.


Durbanville
08 December 2014

Sponsor: PSG Capital

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