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Notification Of Resignation Of Guarantor
CURRO HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1998/025801/06)
(the Issuer)
Stock Code: COH002
ISIN: ZAG000114943
NOTIFICATION OF RESIGNATION OF GUARANTOR
This notification is delivered by the Issuer to each holder of
Notes (“Noteholders”) issued under the Issuer’s ZAR2,000,000,000
Domestic Medium Term Note Programme (“Programme”) pursuant to
the section headed “Terms and Conditions of the Notes” (“Terms
and Conditions”) in the programme memorandum dated
18 November 2013 and as amended and restated from time to time
(“Programme Memorandum”), in accordance with Condition 19
(Notices) of the Terms and Conditions for the purposes of
advising the Noteholders of the resignation of a Guarantor
pursuant to Condition 8.6 (Resignation of a Guarantor) of the
Terms and Conditions.
On 28 February 2017, the Issuer announced its intention to
unbundle its higher education business, which is held through
its subsidiary Stadio Holdings Limited (“Stadio”) and to list
Stadio on the JSE. Embury Institute for Higher Education
Proprietary Limited (registration number: 2004/031722/07)
(“Embury”), forms part of such higher education business.
For purposes of, and in preparation for, the aforementioned
unbundling, and since Embury does not constitute a Material
Subsidiary (as defined in the Terms and Conditions), Embury has
resigned as a Guarantor under the Programme, with effect from
25 August 2017.
Capitalised terms used herein which are not otherwise defined
shall bear the meaning ascribed thereto in the Terms and
Conditions.
Date: 6 September 2017
Debt Sponsor: PSG Capital Proprietary Limited
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