Enhanced Investments - Financial Portal

Update on business rescue proceedings

Published: 2024-04-10 17:15:26 ET

ELLIES HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2007/007084/06)
JSE share code: ELI ISIN: ZAE000103081
(“Ellies” or the “Company”)


UPDATE ON BUSINESS RESCUE PROCEEDINGS


Shareholders are referred to the announcement released on SENS on 31 January 2024 wherein it was advised that
Ellies had entered into voluntary business rescue proceedings in terms of section 129(1) of the Companies Act,
71 of 2008 (“Companies Act”), and the subsequent announcement of 6 February 2024 advising of the
appointment of a business rescue practitioner in this regard.

The business rescue practitioner has concluded that there is no reasonable prospect of the Company being rescued,
and therefore, in accordance with section 141(2)(a)(ii) of the Companies Act, application will be made to the
court for an order discontinuing the business rescue proceedings and placing the Company into liquidation.

Further updates in this regard will be provided in due course.

10 April 2024


Sponsor

Java Capital

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.