Finweek English Edition - - SIMON SAYS -

Curro has backed down from its pro­posed 1 300c of­fer to AdvTech share­hold­ers. A fairly terse Sens from Curro stated that it would be with­draw­ing and thanked the over 50% of AdvTech share­hold­ers who sup­ported the of­fer ver­bally or in writ­ing. I am sur­prised Curro walked away so easily. I think the merged group would have been good for share­hold­ers – some­thing I have taken a lot of f lak for. But AdvTech mounted a strong de­fense, most no­tably at its AGM where a num­ber of res­o­lu­tions were voted against by over 40% of those at­tend­ing. So for now the two com­pa­nies re­main sep­a­rate and the AdvTech man­age­ment team needs to prove that it was right in re­ject­ing the Curro of­fer.

Curro Rood­e­plaat School in Pre­to­ria, South Africa.

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