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Commencement of section 189 consultation process with stakeholders

Published: 2022-09-26 11:15:39 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” or the “Group”)


COMMENCEMENT OF SECTION 189 CONSULTATION PROCESS WITH STAKEHOLDERS


Shareholders are advised that the Company will enter into a formal consultation process with relevant stakeholders in
terms of Section 189A (“S189 process”) of the Labour Relations Act No. 66 of 1995, regarding the restructuring of
certain operational functions. This is pursuant to ongoing constrained trading conditions being experienced by the
Group.

As part of the S189 process, the Company and affected stakeholders will together consider appropriate measures to
minimise possible retrenchments and seek viable alternatives which will assist the Group in returning to profitability
and ensure the continued operation of Ellies. The Company is committed to following the legislative processes to ensure
that all affected employees are treated fairly.

26 September 2022


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.