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ADVTECH LIMITED - IFC Share Issue

Release Date: 20/07/2016 13:55
Code(s): ADH     PDF:  
Wrap Text
IFC Share Issue

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

IFC Invests in South African private education company ADvTECH to support the expansion of
Education and Skills Development in Sub-Saharan Africa

Johannesburg, South Africa, July 20, 2016 — International Finance Corporation (IFC), a member of
the World Bank Group, today acquired 13 609 213 new ADvTECH shares at R14.01 per share. The
shares were issued by the directors in accordance with the approval granted by shareholders at the
ADvTECH Annual General Meeting of 24 May 2016. IFC’s share purchase is equal to 2.5% of the
grossed-up total issued share capital of the Company. The price is based on the 60-day volume
weighted average share price (VWAP) of ADH as at 17 June 2016.

The R190m investment will help fund the ADvTECH growth strategy, with a particular focus on
expanding in Sub-Saharan Africa, and to increase its schools and tertiary education programs.
ADvTECH has targeted generating 30% of revenue from Africa, outside of South Africa by 2020.

IFC also acquired a further 1.6% of ADvTECH’s stock in the market, raising its combined investment in
ADvTECH to R320m and its total holdings to around 4% of the Company.

Roy Douglas, CEO of ADvTECH, said, “ADvTECH has a proven track record of expanding educational
opportunities and improving skills for people entering the job market or seeking to improve their
employment prospects. IFC’s investment is the result of our collaboration to identify educational
opportunities and potential partnerships across Africa. In addition to their investment capital, IFC gives
ADvTECH access to an invaluable network of in-country experts and education officials along with
private and state education providers at both schools and tertiary level. We have been working with IFC
officials to identify quality local education partners to invest in, and which will benefit from ADvTECH’s
proven pedagogical, management and education technology solutions.”

Oumar Seydi, IFC Director for Eastern and Southern Africa, said, “Africa’s population is the fastest
growing in the world requiring increased jobs and people with skills to fill them. IFC can help African
companies with proven records at home expand into new markets. ADvTECH has proven that it can fill
gaps in the markets by supporting excellent primary, secondary and tertiary education that will allow
Africa’s workforce to meet the challenges of changing job markets in Africa and globally. We look
forward to supporting ADvTECH strategy to expand access to quality education across Africa.”

Douglas concluded by saying, “Working with IFC allows us to invest in new quality education provision
that meets the growing needs of Africa’s young and expanding workforce while also reducing the risks
inherent in expanding into new countries.”

See www.advtech.co.za for more detail.

20 July 2016
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

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