ADVTECH LIMITED - ADvTECH Limited- Update to Shareholders

ADvTECH Limited- Update to Shareholders

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


ADvTECH LIMITED: UPDATE TO SHAREHOLDERS

Shareholders are referred to the withdrawal of cautionary announcement published by ADvTECH on SENS
on 21 July 2015 as well as the various SENS announcements made by Curro Holdings Limited (“Curro”) on
22 July 2015 and today, 23 July 2015.

ADvTECH, earlier today, received a signed letter from the Chairperson of Curro which is titled “Conditional
firm intention to make an offer”. The letter does not constitute a firm intention (as defined in the Companies
Act) to make an offer and is substantially similar to the proposal (“the Proposal”) contained in the previously
received draft unsigned letter which was already considered by the board of directors of ADvTECH (“the
Board”) and its advisors. The ADvTECH Board, through an independent sub-committee, its advisors and
the Company’s management, had spent a considerable amount of time in discussion with Curro
management and their advisors regarding the merits of the Proposal. Shareholders were previously
advised that the ADvTECH Board had unanimously resolved that the Proposal is not in the best interests of
the Company and will therefore not pursue further discussions with Curro regarding the Proposal. As
announced previously in the withdrawal of the ADvTECH cautionary, the Proposal from Curro contains a
number of terms, conditions and pre-conditions considered unacceptable by the Board. The terms of the
Proposal requires the support of the ADvTECH Board as proposers of a scheme of arrangement as a
precondition to its implementation.

As the contents of the “Conditional firm intention to make an offer”, received earlier today, reflects no
material changes to what was originally tabled, and already considered, the ADvTECH Board reaffirm their
view that the Proposal made by Curro is not in the best interests of the Company and that it will not pursue
further discussions with Curro in this regard.

ADvTECH remains of the view that it is inappropriate to use the medium of SENS to comment on the several
allegations made by Curro which are factually inaccurate, untrue or misleading.

Nothing in the ADvTECH’s Board’s actions precludes Curro from making a voluntary general offer to
ADvTECH’s shareholders.

23 July 2015
Johannesburg
Sponsor and Corporate Advisor: Bridge Capital Advisors Proprietary Limited

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