Advtech Limited - Press Release: Announcement By Advtech Regarding Bond South
Release Date: 18/06/2004 11:27:01 Code(s): ADH
ADVTECH LIMITED - PRESS RELEASE: ANNOUNCEMENT BY ADVTECH REGARDING BOND SOUTH
AFRICA
ADVTECH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
Share code: ADH ISIN: ZAE000031035
(`ADvTECH`)
PRESS RELEASE: ANNOUNCEMENT BY ADVTECH REGARDING BOND SOUTH AFRICA
ADvTECH Limited, the education, recruitment and human resources group and Bond
University Australia, today announced that Bond South Africa (Bond SA) will
close once current students have completed their degrees over the next few
years.
The new criteria the Higher Education Quality Control used to consider the re-
accreditation of the Bond SA MBA programme focused on process and governance
rather than graduate outcomes. Neither the quality of the degree nor the
teaching and learning programme formed the basis for the decision. This new
regulatory environment means that Bond SA will not be seeking further
registration as a private higher education institution in South Africa.
Commenting on the developments, ADvTECH CEO, Frank Thompson, said:
`We have a commitment to sustainable excellence in education but regrettably
this decision had to be taken. We have given this huge consideration and feel
this is the best course of action to take.
The decision not to extend the registration will not affect the quality of past
or current students` studies or the degrees that have already been awarded. We
will ensure that current studies are not interrupted, so that students will be
able to complete their programmes.`
Professor Dolina Dowling, Pro-Vice Chancellor, Bond SA said:
`Both Bond SA and Bond Australia are very disappointed about the closure of the
University but we are not prepared to compromise the quality of our
internationally recognised degrees to conform with process issues in one country
of the world. The international flavour of the Bond MBA has proved to be highly
appealing and attractive to South African students and employers.
South African alumni of Bond University have been extremely successful and have
demonstrated the value of the Bond degree in the real world.`
Bond University represents about 4% of ADvTECH turnover. The group`s other
divisions continue to perform well and the Education Division remains the most
profitable division in the Group.
`We will now focus our attention on our other businesses to ensure ADvTECH is
best positioned for growth,` Thompson concluded.
18 June 2004
For further information contact: ADvTECH
Frank Thompson: 011 886 5100
Brunswick: 011 268 5750
Taryn Proksch: 083 273 1301
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