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ADVTECH LIMITED - ADvTECHs Monash South Africa acquistion finalised

Release Date: 08/04/2019 14:05
Code(s): ADH     PDF:  
 
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ADvTECH’s Monash South Africa acquistion finalised

ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
Share code: ADH
ISIN: ZAE000031035
(“ADvTECH” or “the Company”)


ADvTECH’s MONASH SOUTH AFRICA ACQUISTION FINALISED

Shareholders are referred to the Category 2 announcement published on SENS on 11 September
2018 and in the press on 12 September 2018 wherein they were advised that ADvTECH would
acquire Monash South Africa (“MSA”) subject to conditions precedent.

ADvTECH, SA’s largest private education provider is pleased to announce that its acquisition of MSA
has become unconditional following the fulfilment of all conditions precedent, including approval by
the Competition Tribunal.

The transaction which became effective from 1 April 2019 will result in MSA now being incorporated
into ADvTECH’s higher education division, The Independent Institute of Education, and will be
branded IIE MSA. This increases the tertiary student complement of ADvTECH to more than 43 000.

“We are delighted to be able to add MSA, which offers a world-class education environment, with a
strong track record for student employability, outstanding pass rates and qualification completion
times, to our existing portfolio of highly respected brands which includes Varsity College, Vega and
Rosebank College,” says Roy Douglas, ADvTECH Group CEO.

“MSA’s reputation for academic excellence aligns with ADvTECH’s values and will support our
growth strategy while further cementing our reputation and ability to deliver as South Africa’s
leading private higher education/‘private university’ group,” Douglas says.

The IIE MSA campus, located on Johannesburg’s West Rand, is one of the largest private higher
education precincts in the country. With a capacity for 6 500 students, it boasts extensive education
facilities which include laboratories, sports facilities and four student residences.

In addition to a state-of-the-art campus, IIE MSA also brings to the ADvTECH portfolio a
comprehensive suite of premium programmes, an extensive executive education and training
portfolio and highly sought-after programmes such as its engineering and public health.

The approval of this acquisition together with the recent High Court judgment in favour of The
Independent Institute of Education’s, confirms that registered and accredited qualifications from
private institutions are on par with those of public universities, represents a substantial
development for the private higher education sector in South Africa.

“We are buoyed by these recent developments and vote of confidence in the private sector in
general, and ADvTECH’s offering in particular, which means that we are increasingly able to make a
greater contribution to higher and tertiary education in the country, in line with the way private
universities are able to do internationally,” says Douglas.

“This is good news for prospective students throughout the country, whose options continue to
grow, with the ability to receive a globally recognised quality qualification from a respected
institution outside of the public university sector becoming a reality for more young people.”
Any forward looking statements in this SENS announcement have not been reviewed nor reported
on by the Company’s auditors.

8 April 2019
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

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