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Cape Town - Voting for board members at an AGM and voting to accept an offer are two different things, Curro Holdings [JSE:COH] said on Tuesday.
Curro's bid of R6bn for Advtech was rejected by the Advtech board, which said it was not in the company's interest. Curro, however, had the backing of two of Advtech's biggest shareholders. Last week Curro indicated it has resubmitted its offer on similar terms.
Curro said it has received numerous enquiries about what it would do next following the Advtech AGM, which took place on Tuesday.
READ: Curro bid impacts Advtech AGM
"Our offer is still open till close of business today [Tuesday]. If the offer is not accepted, Curro will consider its options available and will revert to its shareholders in due course," said Curro.
Bloomberg reported that at the Advtech AGM its two largest investors voted against the re-election of the company’s incoming chair and another independent director, reiterating its opposition to a proposed takeover offer from competitor Curro.
Curro said in a statement issues on Monday there is no truth in any statements that it would change the names or ethos of Advtech [JSE:ADH] schools, or that its vision for the group is unclear.
ALSO READ: Curro defends intentions with Advtech bid
