SENS Announcement | 28 May 2025

ADvTECH Limited

(Incorporated in the Republic of South Africa)

(Registration number 1990/001119/06)

Share code: ADH      ISIN: ZAE000031035

(“ADvTECH” or “the Company”)

 

RESULTS OF THE ANNUAL GENERAL MEETING

In terms of section 3.95 of the JSE Listings Requirements, shareholders are hereby advised that at the Annual General Meeting (“AGM”) of shareholders of the Company held today, Wednesday 28 May 2025 all the proposed ordinary and special resolutions, as set out in the Notice of Annual General Meeting, were approved by the requisite majority of shareholders present or represented by proxy.

Details of the results of voting at the annual general meeting are as follows:

Ordinary shares:
Total number of issued ordinary shares: 554 456 252
Total number of issued ordinary shares net of treasury shares: 6 372 333
Total Votable Ordinary Shares 548 083 919


The meeting was attended by shareholders representing 392 328 450 ADvTECH shares which amounted to 70.76% of the total ordinary issued share capital of ADvTECH, voting in person or by proxy.


The resolutions proposed at the AGM, together with the percentage of shares abstained (as a percentage of total issued share capital of the Company), as well as the percentage of votes carried for and against each resolution (as a percentage of shares voted), are as follows:


1.         Ordinary resolution number 1: Adoption of annual financial statements

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


2.          Ordinary resolution number 2: Confirmation of appointment of JW Boonzaaier

FOR AGAINST ABSTAIN
391 680 143 0 648 307
100% 0.00% 0.12%


3.         Ordinary resolution number 3: Confirmation of appointment DL Smith

FOR AGAINST ABSTAIN
389 253 825 2 787 292 287 333
99.29% 0.71% 0.05%


4.          Ordinary resolution number 4: Confirmation of appointment H Christopher

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


5.          Ordinary resolution number 5: Confirmation of appointment JA Boggenpoel

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


6.          Ordinary resolution number 6: Re-election of KDM Warburton

FOR AGAINST ABSTAIN
294 422 764 97 618 353 287 333
75.10% 24.90% 0.05%


7.          Ordinary resolution number 7: Re-election of JS Chimhanzi

FOR AGAINST ABSTAIN
389 326 005 2 715 112 287 333
99.31% 0.69% 0.05%


8.           Ordinary resolution number 8: Re-election of SW van Graan

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


9.           Ordinary resolution number 9: Re-election of A Watson

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


10.               Ordinary resolution number 10: Re-election of KDM Warburton as member and chairperson of the Audit and risk committee

FOR AGAINST ABSTAIN
385 175 612 6 865 505 287 333
98.25% 1.75% 0.05%


11.               Ordinary resolution number 11: Re-election of JS Chimhanzi as member of the Audit and risk committee

FOR AGAINST ABSTAIN
389 326 005 2 715 112 287 333
99.31% 0.69% 0.05%


12.               Ordinary resolution number 12: Election of H Christophers as a member of the Audit and risk committee

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


13.               Ordinary resolution number 13: Election of JA Boggenpoel as member of Audit and risk committee

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


14.               Ordinary resolution number 14: Election of JS Chimhanzi as a member and chairperson of the TSEC committee

FOR AGAINST ABSTAIN
389 326 005 2 715 112 287 333
99.31% 0.69% 0.05%


15.               Ordinary resolution number 15: Election of A Watson as a member of the TSEC committee

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


16.               Ordinary resolution number 16: Election of SW van Graan as a member of the TSEC committee

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


17.               Ordinary resolution number 17: Election of GD Whyte as a member of the TSEC committee

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


18.               Ordinary resolution number 18: Appointment of external auditors

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


19.               Ordinary resolution number 19: Signature of documents

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


20.               Non-binding advisory vote number 1 – Remuneration policy

FOR AGAINST ABSTAIN
388 538 630 3 495 144 294 676
99.11% 0.89% 0.05%


21.               Non-binding advisory vote number 2 – Implementation report

FOR AGAINST ABSTAIN
390 041 194 1 992 580 294 676
99.49% 0.51% 0.05%


22.               Special resolution number 1: Approval of non-executive directors’ fees

FOR AGAINST ABSTAIN
391 013 365 1 027 752 287 333
99.74% 0.26% 0.05%


23.               Special resolution number 2: Authority to give loans or financial assistance to foreign subsidiaries and related or inter-related companies to the

                     extent required by the Companies Act

FOR AGAINST ABSTAIN
391 377 052 664 065 287 333
99.83% 0.17% 0.05%


24.               Special resolution number 3: General authority to acquire the company’s own shares

FOR AGAINST ABSTAIN
392 041 117 0 287 333
100% 0.00% 0.05%


In a business update to shareholders at the AGM the Group CEO, Geoff Whyte, indicated that enrolments for Schools and Tertiary were up by 11% and 14% respectively, compared to prior year, and as reported in our year end results.


The integration of the acquired Flipper International Schools in Ethiopia is progressing well. This sets the Group up for another solid performance in the current financial year.



There have been no material changes since the publishing of our enrolment numbers and the business continues to trade in line with expectations.

 

28 May 2025

Sandton

Sponsor: Bridge Capital Advisors Proprietary Limited



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Click on the image below to read full SENS Announcement
By Tamara Thomas August 25, 2025
Commenting on the six months ended 30 th June 2025, ADvTECH CEO, Geoff Whyte said: “Healthy enrolment growth, moderate fee increases, improved debtors control and continued margin improvement contributed to ADvTECH delivering another strong set of results.” “In the six months under review, we continued to build competitive advantage by investing in superior technology to enhance teaching and learning, further cementing our position as the leading provider of private education on the African continent.” Group: Operational and Financial Performance Revenue up 10% to R4 683 million (2024: R4 274 million) Operating profit up 14% to R982 million (2024: R865 million) Operating margin improved to 21.0% (2024: 20.2%) Normalised earnings per share increased by 16% to 113.0 cents (2024: 97.7 cents) Group revenue grew by 10% to R4 683 million for the six months ended 30 th June 2025 (2024: R4 274 million), driven by a 13% increase in the education division. Group operating profit increased by 14% to R982 million (2024: R865 million), with the education division’s operating profit increasing by 15%, supported by strong enrolment growth. Group operating margin improved to 21.0% (2024: 20.2%). Operating margin in the education divisions improved to 23.8% (2024: 23.5%) through the benefit of operating leverage and a continued focus on efficiencies. This more than offset the additional costs incurred to strengthen our brands through the introduction of additional global benchmarking measures, artificial intelligence tools to support personalised learning and enhanced student information systems. Normalised earnings for the period increased by 16% to R620 million (2024: R535 million) while normalised earnings per share increased by 16% to 113.0 cents (2024: 97.7 cents) per share. A continued focus on collection processes has seen gross trade receivables increasing by only 3% compared to a revenue increase of 10%. Loss allowances decreased to R488 million (2024: R494 million) , due to improved collections and favourable aging of the debtors’ book. Cash generated by operating activities increased by 18% to R2 303 million (2024: R1 959 million). Capital expenditure of R327 million was focused mainly on increasing capacity at existing sites to meet incremental demand. Dividend Announcement The board is pleased to declare an interim dividend of 45.0 cents (2024: 38.0 cents) per ordinary share in respect of the six months ended 30 th June 2025. Divisions: Operational and Financial Performance Schools South Africa Robust enrolment growth driving strong financial performance Revenue increased by 11% to R1 722 million (2024: R1 556 million) with all brands showing enrolment growth. Operating profit increased by 12% to R354 million (2024: R316 million) with operating margin improving to 20.6% (2024: 20.3%), benefiting from scale leverage. Strong enrolment growth at Pinnacle College Raslouw has necessitated the accelerated build out of the school. Pinnacle College Ridgeview opened in Roodeport in January and is performing in line with expectations.