CURRO HOLDINGS LIMITED - Voluntary Announcement: Acquisition Of 50% Of Ba Isago University

Voluntary Announcement:  Acquisition Of 50% Of Ba Isago University

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: ACQUISITION OF 50% OF BA ISAGO UNIVERSITY

Shareholders are hereby informed that Curro, the JSE-listed independent
school group with 47 campuses or 110 schools and more than 42 000
learners, acquired, via its wholly-owned subsidiary The Embury Institute
for Higher Education (Pty) Ltd (“Embury”), previously known as Embury
Institute for Teacher Education, a 50% stake in BA Isago University.
Embury is a registered and accredited institute for higher education
focusing primarily on teacher education.

BA ISAGO University was established in Botswana in 2002 and operates from
four campuses - Gaborone, Fancistown, Serowe and Maun. It has about 3 000
students and intends to expand to accommodate about 6 000 students.
The BA Isago University acquisition aligns with Curro’s business strategy
and offers a strong Faculty of Education.

The transaction is subject to the fulfilment of various conditions
precedent. Curro will fund the transaction by means of existing cash
reserves and bank loans.

Curro’s vision is to have 200 schools /80 campuses by 2020.

Durbanville
21 November 2016

Sponsor: PSG Capital Proprietary Limited

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