CURRO HOLDINGS LIMITED - Voluntary announcement: Curro to acquire Windhoek Gymnasium

Voluntary announcement: Curro to acquire Windhoek Gymnasium

Curro Holdings Limited
Incorporated in the Republic of South Africa
(Registration number: 1998/025801/06)
JSE Share Code: COH
ISIN: ZAE000156253
(“Curro”)

VOLUNTARY ANNOUNCEMENT: CURRO TO ACQUIRE WINDHOEK GYMNASIUM

Curro, the JSE-listed independent schools group with 42 campuses and more
than 36 000 learners, wishes to announce its acquisition of the
prestigious Windhoek Gymnasium for an enterprise value of R180 million.
Windhoek Gymnasium was established in 2006 and is a leading independent
school in Namibia.

The vendors are a non-profit organisation and will, following the
acquisition, utilise the capital surplus of the purchase amount to promote
education in Namibia.

Windhoek Gymnasium currently accommodates 1 509 learners. Curro wishes to
expand the current campus with additional facilities and land in order to
grow the campus to 2 600 learners.

Windhoek Gymnasium’s ethos, values and norms are aligned with those of
Curro, which makes it a very suitable acquisition as a Select school in
the Curro portfolio.

The transaction is subject to the fulfilment of various conditions
precedent, including the approval of Namibia’s competition commission.

Curro will make use of its existing cash reserves and bank loans to
finance the acquisition.

Curro’s vision is to have 80 campuses by 2020 accommodating 90 000 
learners.

Durbanville
22 September 2015

Sponsor
PSG Capital Proprietary Limited

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