| Thu 5 Aug 2010, 7:34 | | ADR - Adcorp Holdings - Commited to upskilling SA`S Workforceadcorp |
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ADR
ADR
ADR - Adcorp Holdings - Commited to upskilling SA`S Workforceadcorp
acquires Gold Fields External Training Services (Pty) Limited
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR ISIN: ZAE000000139
("Adcorp" or "the Company")
COMMITED TO UPSKILLING SA`s WORKFORCEADCORP ACQUIRES GOLD FIELDS
EXTERNAL TRAINING SERVICES (PTY) LIMITED ("GFETS")
Shareholders are advised that Adcorp, the leading listed human capital
management firm, has acquired GFETS for a cash amount of R 5
million ("the transaction").
Adcorp currently administers in the region of around 5 000 registered
learnerships annually and, is therefore the leading provider of
learnership training in South Africa.
The acquisition of GFETS will greatly enhance the Group`s ability to
extend its operations in the area of up-skilling candidates in the
work place and, in particular, bolstering its capacity with regard
to Artisan training whereby the Group currently trains in excess
of 1 000 artisans per annum, says Adcorp CEO, Richard Pike.
"Although a relatively small acquisition in financial terms, it is a
significant acquisition in strategic terms given the Group`s focus
on bolstering its training capabilities", said Pike. "Artisans are
in short supply in the South African labour market and the
specific expertise and experience of GFETS in this area will
assist us greatly in expanding the scope and extent of our Artisan
training programmes".
GFETS has a specific focus in the area of Artisan and Mining related
training.
The transaction falls below the threshold of the categorization of
transactions which require disclosure in terms of the JSE Limited
Listings Requirements. Nevertheless, due to the strategic nature
and long term importance of this acquisition, the directors of
Adcorp deemed it appropriate to inform shareholders of the
transaction.
For further information contact:
Richard Pike
CEO: Adcorp
011-2445313 or 0825559753
Bryanston
5 August 2010
Sponsor
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 05/08/2010 07:34:13 Produced by the JSE SENS Department.
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