Staff Writer
Curro Holdings Limited, which operates three schools in Namibia, will be delisted from the Johannesburg Stock Exchange (JSE) after the implementation of a scheme of arrangement that enables its acquisition by the Jannie Mouton Stigting.
Curro said all suspensive conditions linked to the scheme have been fulfilled or waived, making the transaction unconditional.
Shareholders approved the scheme by the required majority at a general meeting held on 31 October 2025.
Under the transaction, shareholders listed on the register on the scheme consideration record date will receive payment made up of a cash portion and a share portion.
The scheme will result in Curro’s issued ordinary shares being removed from the JSE main board in line with JSE Listings Requirements.
The last day to trade Curro shares on the JSE will be Tuesday, 6 January 2026.
Trading in scheme shares will be suspended from the start of trade on Wednesday, 7 January 2026.
Curro said an announcement setting out the cash payment for fractional entitlements will be released by 11:00 on Thursday, 8 January 2026.
The amount will be based on the volume-weighted average prices of Capitec and PSG Financial Services shares traded on Wednesday, 7 January 2026, less 10%.
The scheme consideration record date is Friday, 9 January 2026. On the same day, Curro will announce the closing prices of Capitec and PSG Financial Services shares for securities transfer tax purposes.
The scheme is set to be implemented on Monday, 12 January 2026.
Scheme consideration payments will be made on that date to both dematerialised and certificated shareholders, subject to the submission of the required documentation for certificated shareholders.
The termination of the listing of scheme shares on the JSE is expected to take effect at the start of trade on Tuesday, 13 January 2026.
The listing of the remaining Curro shares is also expected to be terminated on the same date.
In Namibia, Curro’s investments include Windhoek Gymnasium, as well as new campuses in Walvis Bay and Oshana.
The Walvis Bay school opened with 350 pupils, while Oshana Gymnasium started with between 200 and 250 learners. The two campuses were built at a combined cost of N$240 million as part of a joint venture.
Curro’s annual report for the year ended 30 June 2025 said the group invested N$306 million in its South African and Namibian operations during 2024.
The company had planned capital spending of up to N$700 million to maintain and expand its schools and meet growing demand, particularly for high school education.
Caption
Jannie Mouton Stigting
