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Cape Town - Curro announced on Friday that the board of has resolved to unbundle 410 561 153 ordinary shares in STADIO to Curro shareholders.
The JSE has granted STADIO a listing by way of introduction of all its issued ordinary shares on the main board of the JSE with effect from the commencement of trade on Tuesday, 3 October 2017. STADIO will be listed in the “Specialised Consumer Services” sector of the main board.
The ration will be one STADIO share for every one ordinary share in the share capital of Curro held on the record date of the unbundling, comprising 91.7% of the issued share capital of STADIO which was acquired by STADIO prior to the date of this announcement. The remaining 8.3% of the issued share capital of STADIO is held by the vendors of the South African School of Motion Picture Medium and Live Performance (AFDA)
Curro Holdings is currently the largest for-profit independent school group in Africa, providing education services to approximately 47 000 learners in 127 schools across South Africa and Namibia.
Curro has provided pre-school and school-based education since 1998 and was listed on the JSE in 2011.
In 2013, Curro acquired the Embury Institute for Higher Education, a registered private higher education institution, which offers accredited undergraduate teacher-education qualifications.
The acquisition of Embury was Curro’s first investment in the post-school education environment.
In a Sens statement Curro said that, in light of the opportunities presented in the post-school education market, it was a natural progression for Curro to develop and further expand its higher education offering.
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