CURRO Annual general meeting RESOLUTIONS General matters To - - PowerPoint PPT Presentation

CURRO

Annual general meeting RESOLUTIONS

General matters

2

To accept the presentation of the audited financial statements for the year ended 31 December 2016

Ordinary resolutions

3

1

Re-elect Ms Susan Louise Botha as a director.

2

Re-elect Mr Barend Petersen as a director.

3

Appoint Dr Christiaan Rudolph van der Merwe as a non-executive director of the company with effect from 1 July 2017.

Resolution number Resolution number Resolution number

Ordinary resolutions

4

4

Reappoint Mr Barend Petersen as a member and chairperson of the audit and risk committee of the company.

5

Reappoint Dr Sibongile Winnie Frieda Muthwa as a member of the audit and risk committee of the company.

6

Reappoint Mr Zitulele Luke Combi as a member of the audit and risk committee of the company.

Resolution number Resolution number Resolution number

Ordinary resolutions

5

7

Reappoint Deloitte & Touche as the auditors of the company for the ensuing year.

8

General authority to issue shares for cash.

9

Endorsement of the company's remuneration policy.

Resolution number Resolution number Resolution number

Special resolutions

6

1

Remuneration of non-executive directors.

Resolution number

2

Inter-company financial assistance.

Resolution number

3

Financial assistance for acquisition of shares in a related or interrelated company.

Resolution number

4

Share repurchases by the company and its subsidiaries.

Resolution number

CURRO

Annual general meeting CEO PRESENTATION

Index

1. About Curro 2. The market 3. Key numbers 4. Our product offering 5. Giving back – our responsibility 6. The future 7. Stadio

8

What does the word ‘CURRO’ mean?

10

Curro is a Latin word meaning I RUN, which can be interpreted as follows: I learn at my own learning pace and according to my own aptitude, attitude and talents.

Curro’s

11

to ensure that a child must become what he/she wants to become and can become. Curro believes that the purpose of education is …

What is the Curro ?

14

A view

Percentage of enrolment in independent institutions (%)

10.4% 10.1% 1.7% 18.6% 9.9% 4.1%

0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% Developing countries Developed countries South Africa 2000 2015

22.4% 12.9% 2.3% 28.4% 18.2% 4.2%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Developing countries Developed countries South Africa 2000 2015

16

ANALYSIS OF SOUTH AFRICAN SCHOOL SECTOR

If South Africa follows this trend there is huge potential for many more independent schools to be developed.

566 194

learners in independent schools

12 814 473

learners

The global trend for independent school numbers indicate that independent schools are moving towards making up 20% of the total number of schools.

A view

17

There are three large operators in the independent school sector of which CURRO is one

Strong track record of financial and

19

12 473 21 027 28 737 35 970 41 864 47 589 10 000 20 000 30 000 40 000 50 000 2012 2013 2014 2015 2016 2017 23% 25% 26% 28% 29% 0% 5% 10% 15% 20% 25% 30% 35% 2012 2013 2014 2015 2016 10.8 12.7 14.7 15.0 16.3 17.0

• 5.0

10.0 15.0 20.0 2012 2013 2014 2015 2016 2017 31% 44% 51% 49% 52% 0% 10% 20% 30% 40% 50% 60% 2012 2013 2014 2015 2016

Strong track record of financial and

20

366 659 1 001 1 384 1 761 250 500 750 1 000 1 250 1 500 1 750 2 000 2012 2013 2014 2015 2016 Rm 79 155 262 382 497 100 200 300 400 500 600 2012 2013 2014 2015 2016 Rm 15 37 56 100 169 50 100 150 200 2012 2013 2014 2015 2016

7 12.8 17.2 28.3 43.9

10 20 30 40 50

2012 2013 2014 2015 2016

CAGR of 42% since listing June 2011

21

4450 1000 2000 3000 4000 5000 6000 7000 2011 2012 2013 2014 2015 2016 100 440 1 773 5 200 9 000 12 816 15 572 18 120

• 2 000

4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 20 000 2009 - PSG Investment 2011 - Listing 2012 2013 2014 2015 2016 2017

23

What do parents when choosing a school?

25

Most important consideration by parents

Facilities

Curriculum Co-curricular

1

2

3

4

Ancillary services

Curriculum

• Manageable class sizes
• Focus on school readiness
• Every child is unique
• Enhanced South African national

curriculum

• Focus on Mathematics, Science and IT
• Learning delivery technology
• Benchmarked curriculum standards
• Value-added programmes
• IEB examinations
• Qualified and committed educators

Brand

28

31 campuses 27 178 learners R3 700

• avg. monthly fees

Balanced curriculum 25 maximum class size 3 – 18 ages (yrs) 6 campuses 5 114 learners R5 000

• avg. monthly fees

Balanced curriculum 25 maximum class size 3 – 18 ages (yrs) 12 campuses 13 500 learners R1 500 – R2 500

• avg. monthly fees

Academic curriculum 35 maximum class size 5 – 18 ages (yrs) 4 campuses 1 030 learners R3 200

• avg. monthly fees

Balanced curriculum 25 maximum class size 0 – 5 ages (yrs) 1 campus 978 learners R3 600

• avg. monthly fees

Academic curriculum 70 maximum class size 18+ ages (yrs)

IEB

29

637 724

Number of learners

99% 99%

Pass rate

82% 82%

University exemption

7% 8%

Learners with an A average

66% 69%

Average >60%

877 99% 84% 9% 70%

30

488 708

Number of learners

90% 98%

Pass rate

73% 90%

Learners with a diploma or degree exemption pass

30% 43%

Average >60%

773 93% 79% 30%

NSC

Research and development

31

Rapidly changing world

Communication | Collaboration | Critical thinking | Problem-solving | Creativity/innovation | Resourcefulness | Resilience

• Engaged learners (not passive)
• Meaningful content that is applicable
• Assessment strategies, other than

conventional tests/exams/homework

Core skills required Curriculum approach

• Literacy | Coding | Mathematics | Science

and Technology | Entrepreneurship

• Oracle/Java programming
• Future School of Engineering

Focus

Cannot prepare tomorrow’s children with yesterday’s methods

(Social Ethics and Human Resources Committee feedback)

Curro’s code of

• Discrimination
• Respecting matters

relating to human rights

• Emphasising the

importance of business integrity and ethics

Internalises values and ethics in the company amongst staff and learners

• Good corporate citizenship
• Discipline
• Health and safety
• Use of information technology and

social media

• Learners’ code of conduct
• Disciplinary policies
• Social media

Articulates Curro’s policies on:

• Group transformation charter

developed and accepted

• Excellent progress made

throughout the organisation

• Transformation committees

have been established at school level.

• Energy-saving techniques are

implemented during new school construction and energy efficient practices are implemented at existing schools.

• Water-wise gardens and fields are

addressed during the design phase.

• Environmental impact studies are

conducted on new sites during the land- banking process.

• Providing learners with a safe

place to learn through quality facilities, security on premises and abiding with occupational health and safety legislative requirements.

citizenship

Bursaries and financial assistance

35

responsibility

36

Successful applicants out of more than 600 applicants

37

responsibility

38

responsibility

39

responsibility

40

Looking

42

Despite our growth, it remains a tough market

43

Looking

Top quality written and delivered curriculum Exco Ops to help lead

Exco Ops

44

The role of the Exco Ops is to the CEO to:

• Implement strategies set

by the board

• Monitor business success
• Formulate policy

Campus during 2017

OPENING IN JANUARY 2018

2018

Curro Castles

2

Curro Academy campuses

3

• Curro Castle Oakdene – Gauteng
• Curro Castle Uitzicht – Cape Town
• Curro Academy Sunningdale – Cape Town

Castle and primary school

• Curro Academy Riverside – Gauteng

Primary and high school

• Curro Academy Mamelodi – Gauteng

Primary and high school

51 +5 56 + 7 63 + 7 70 + 7 47 + 7 110 +17 124 + 9 133 +17 150 +17 167 +17

Robust and active

46

Excludes:

• Acquisitions
• Tertiary

AGM

23 June 2017

Tertiary education OPPORTUNITIES for young South Africans

O U R V I S I O N

Multiversity … the race continues …

O U R V I S I O N

Multiversity …

https://www.vocabulary.com/multiversity

A large and diverse institution of higher learning created to educate for life and for a profession, and to grant degrees

S TAD I O H O L D I N G S I S … CREATING A MULTIVERSITY A spin-off from Curro A natural next business stage following on from Curro’s school-based offerings An investment company that acquires and grows higher education brands A company that monitors business success, and drives efficiencies, innovations and best practices across the group A company that funds further expansion on existing campuses and

• versees greenfield

developments

S TAD I O H O L D I N G S ’ D N A …

Multi-branded (diverse offering) Apply the CREDIT–RETRY PRINCIPLE Offers undergraduate and postgraduate programmes (higher certificates, diplomas, degrees) providing students with a real chance of finding employment WE ENROLLED YOU:

THEREFORE YOU SHOULD PASS!

C U R R E N T B U S I N E S S L AN D S C A P E

STADIO HOLDINGS LIMITED

• Krugersdorp
• Windhoek

SITES

2

STADIO INVESTMENT HOLDINGS (PTY) LTD

100% 74% 100% 100%

• Johannesburg
• Cape Town
• Durban
• PE

SITES

4

• Musgrave (KZN)
• Waterfall (Midrand)
• Montana (Pretoria)

SITES

3

C U R R E N T S TAT U S

At listing we will have:

• 13 000 students
• 3 registered higher education institutions
• 4 brands (Embury, CA Connect, AFDA, SBS)
• 4 faculties (Education, Commerce and Business, Arts, IT)
• 27 accredited programmes - ranging from higher certificates

and diplomas to postgraduate degrees (Masters)

• ~20 new courses in the process of development and

accreditation (to be offered between 2018 – 2020)

• 9 registered sites of delivery (Gauteng, Western Cape, KZN,

PE, Windhoek)

EXISTING CAPACITY: ~30 000 STUDENTS

O R G AN O G R A M – H E AD O F F I C E

BOARD COMPOSITION: Dr R Stumpf Chairperson Mr N de Waal PSG Alpha CEO Ms R Kisten Mr K Sithole Dr C van der Merwe CEO* Dr D Singh Academic Director* Miss S Totaram CFO*

*Executive

S T R AT E G I C I N T E N T To optimise utilisation at Stadio’s existing facilities

2700

contact learning capacity MUSGRAVE

1700

contact learning capacity MONTANA

1700

contact learning capacity WATERFALL

1

To grow existing brands i.e. Embury, SBS, AFDA, CA Connect

2

Research the market for further acquisition opportunities

3

Expand greenfield opportunities (distance offerings, new products, additional facilities)

4

To develop user-friendly, efficient, and uncomplicated distance learning systems

5

B U S I N E S S AI M

2017 Target Vision

13 000* 35 000 65 000

Higher Education Students

Vision

Rolling out new campuses across the various brands Accrediting undergraduate and postgraduate Degree, Diploma and Higher Certificate qualifications Acquisitions Expanding new faculties (Engineering and Health Sciences in time) Focussed marketing across the various products and brands Expanding distance offerings across brands

* represents student numbers at listing date

To achieve growth we will focus on:

THANK YOU