PLG Schools has listed on the JSE's Alternative Exchange (AltX)
PLG Group LTD and its Schools division listed successfully on the JSE's AltX on the 31 March 2017
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In a move to project our growth forward, PLG Schools announced its intention to list on the Johannesburg Stock Exchange’s (JSE) Alternative Exchange (AltX). PLG Schools will be one of the few education-focused entities on the JSE, and will also provide diversification if the portfolio of retirement lodges is introduced in the future.
The listing will enable PLG Schools to reach our goal of growing our education portfolio from seven campuses and 19 schools, to 19 campuses and approximately 55 schools by 2022. This growth will enable us to provide quality and affordable education to thousands more South African learners who are hungry for knowledge and a brighter future.
Through the listing we have raised R140 million in external capital to fund the growth aspirations of the group.
Since we started business in 1999, we have focussed on growing a portfolio of retirement lodges. In 2014, a property was acquired which was more suited to a school and this led to the establishment of PLG Schools. Over the last two years PLG Schools has quickly grown from one campus, comprising three schools to seven campuses with 19 schools generally comprising Pre-primary, Primary and High School. We anticipate growth of three campuses per year between 2016 and 2020.
We work to bring the benefits of private education to many more families by bridging an important financial gap government school fees and the ‘elite’ independent school fees. Our vision is to make independent quality education accessible and affordable to more communities across South Africa, driving development forward.
We believe we present an attractive investment opportunity. Not only are our capital costs low, but our fees are 15-25 % less than those of our nearest competitor. In addition, our school properties are in prime locations and provide reduced class sizes with a variety of action sports.
Arbor Capital has been appointed a Designated Advisor to the listing.
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