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Voluntary Announcement Regarding the Agreement to Acquire a Property in Mnandi, Centurion - PLG Midview Academy
PEMBURY LIFESTYLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/205899/06)
(“PL Group” or “the Company”)
ISIN Code: ZAE000222949 JSE Code: PEM
VOLUNTARY ANNOUNCEMENT REGARDING THE AGREEMENT TO ACQUIRE A PROPERTY IN
MNANDI, CENTURION – PLG MIDVIEW ACADEMY (“THE ACQUISITION”)
Shareholders are advised that Pembury Lifestyle Group has entered into an agreement to
acquire a property in Mnandi, Centurion subject to certain conditions precedent and on
deferred payment terms. This is a fast growing area with immense high density residential
properties.
This Acquisition is in line with the stated intention of acquiring three properties during 2017, to
enable the opening of at least three new campuses in 2018. The Company has already
secured the first two schools for 2018, namely PLG Greenhills Academy, based in Randfontein
and PLG Carlswald Academy, based in Midrand. This is the third property acquisition as
planned for 2017.
PLG Midview Academy will open in January 2018 and will comprise three additional schools
being a Pre Primary School, a Primary School and a High School. Various improvements to the
property will commence in August 2017 in preparation for the 2018 intake of pupils. The property
is suited for expansion to 2 000 pupils and boarding for 400 pupils over next 4 years. There is a
notable lack of schooling in this area, with many families transporting their children long
distances to find suitable schooling.
With the addition of the PLG Midview Academy, PLG Carlswald Academy and
PLG Randfontein, the PLG schools division will grow in 2018 from 7 to 10 campuses and 19 to 28
schools, with a future potential capacity of 11 000 students. This growth to 10 campuses in 2018
is in line with the forecast contained in the Company’s Prospectus dated 9 March 2017.
BY ORDER OF THE BOARD
Johannesburg
2 June 2017
Designated Advisor
Arbor Capital Sponsors
Date: 02/06/2017 11:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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