CURRO HOLDINGS LIMITED - Voluntary Announcement: Stadio Acquires AFDA

Voluntary Announcement: Stadio Acquires AFDA

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: STADIO HOLDINGS PROPRIETARY LIMITED
(“Stadio”) ACQUIRES THE SOUTH AFRICAN SCHOOL OF MOTION PICTURE
MEDIUM AND LIVE PERFORMANCE PROPRIETARY LIMITED (“AFDA”)

Shareholders are hereby informed that Curro, through its wholly
owned subsidiary, Stadio, has acquired 100% of the issued share
capital of AFDA (“Acquisition”). The Acquisition is subject to
the fulfilment of certain conditions precedent, including the
approval of the Competition Tribunal.

AFDA is a South African registered higher education institution,
with 9 accredited programmes (ranging from higher certificates
to masters’ degrees) primarily focused on the film, television
and live performance industry. It is rated as the number one
film school in Africa.

Founded by Garth Holmes and Bata Passchier, AFDA has grown from
6 students in 1994 to approximately 2 000 students in 2017, with
campuses in Gauteng, Cape Town, Durban and Port Elizabeth. In
2016, AFDA launched a Bachelor of Commerce in Business
Innovation as well as a Bachelor of Computer Technology, as part
of its strategy to expand its product offering as well as to
meet the demands and opportunities of the creative economy. In
addition, AFDA is in the process of seeking out opportunities
to expand its offerings geographically.

This strategy is aligned with Stadio’s strategy of creating
further access to tertiary education through the expansion and
development of its core brands.

Curro re-affirms its intention to unbundle and list Stadio
separately during the course of this year. Shareholders are
advised that further details in respect of such unbundling and
listing will be released on SENS in due course.


Durbanville
8 June 2017

Transaction Adviser and Sponsor: PSG Capital Proprietary Limited

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