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Voluntary Announcement: Stadio Acquires Lisof, A Leading Fashion Design And Retail Higher Education Institution
STADIO HOLDINGS LIMITED
(Previously Embury Holdings Proprietary Limited)
(Incorporated in the Republic of South Africa)
Registration number: 2016/371398/06
JSE share code: SDO
ISIN: ZAE000248662
(“STADIO” or “the Company”)
VOLUNTARY ANNOUNCEMENT: STADIO ACQUIRES LISOF, A LEADING FASHION
DESIGN AND RETAIL HIGHER EDUCATION INSTITUTION
The board of directors of STADIO is pleased to advise shareholders
that the Company, through its wholly-owned subsidiary, Stadio
Investment Holdings Proprietary Limited, has acquired 100% of the
issued share capital of LISOF Proprietary Limited (“LISOF”), one of
South Africa’s leading fashion design schools and retail education
institutions, including a number of immovable properties which are
predominantly utilised by LISOF for the purpose of carrying out its
business operations (“Acquisition”). The Acquisition is subject to
the fulfilment of certain conditions, none of which are material.
The Acquisition is aligned with STADIO’s intention to acquire
additional higher education institutions with the purpose of expanding
both the geographical footprint of its investments and the higher
qualifications which they offer. The acquisition of LISOF complements
Stadio’s acquisition of the South African School of Motion Picture
Medium and Live Performance Proprietary Limited (AFDA) in expanding
its product offering in the creative economy.
LISOF is a registered higher education institution with 5 accredited
programmes primarily focused on the fashion industry with a current
presence in Johannesburg and Pretoria. LISOF has in excess of 700
students and qualifications offered including a Bachelor of Commerce
(Fashion), Bachelor of Arts (Fashion), BA Honours in Fashion, Diploma
in Fashion, Higher Certificates and a range of short courses.
LISOF was established more than 20 years ago and is regarded as one
of the most progressive fashion design schools and retail education
institutions in Africa. LISOF attained this by developing a curriculum
that is unique in its variety and depth, by employing and consulting
leaders at the cutting edge of fashion, retail and education and by
developing individuality, innovation and creativity. Its programmes
are unrivalled in its scope and practical application and students
can choose from a diverse selection of disciplines.
The Acquisition is uncategorised in terms of the JSE Listings
Requirements, and the information contained in this announcement has
been voluntarily disclosed by the Company.
Durbanville
26 October 2017
Transaction Adviser and Sponsor
PSG Capital Proprietary Limited
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