Sharenet Sites 
Sharenet Sites
ELI - Ellies Holdings Limited - Property acquisitions in 2010 Ellies Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 2007/007084/06) JSE code: ELI ISIN: ZAE000103081 ("Ellies" or the "company") PROPERTY ACQUISITIONS IN 2010 1. The transactions During the course of 2010 Ellies, through its wholly owned subsidiary, Ellies Properties (Pty) Limited acquired: - a tract of land in Chloorkop from Tamryn Manor (Pty) Ltd for a purchase consideration of R1 200 000 in terms of an agreement entered into on 17 June 2010. Ryan Otto, a director of Ellies, has a direct shareholding of 33.3% in the contracting vendor company and is a beneficiary of the Tamryn Trust, which holds a further 33.3%. The transaction represented 0.24% of the market capitalisation of Ellies at that date; - a building in East London and a building in Port Elizabeth from Vegtu Investments (Pty) Ltd for an aggregate purchase consideration of R7 500 000 in terms of agreements entered into on 26 July 2010. Ellie Salkow, a director of Ellies, is a trustee of the trust that owns 100% of the contracting vendor company and the transaction represented 1.45% of the market capitalisation of Ellies at that date; and - a building in Bloemfontein from the Wiltshire Property Trust for a purchase consideration of R5 000 000 in terms of an agreement entered into on 2 June 2010. Gary Wiltshire, a director of a subsidiary of Ellies, is a trustee and beneficiary of the contracting vendor and the transaction represented 0.94% of the market capitalisation of Ellies at that date. Since the transactions are with associates of directors of the company or a material subsidiary of the company, the transactions are related party transactions in terms of the JSE Listed Requirements. Ellies was listed on the AltX at the time of entering into these transactions and this announcement is therefore released in compliance with section 21.11 of the JSE Listings Requirements. At the date of this announcement, the transactions have been fully implemented. 2. Terms of the disposal The purchase considerations were settled in cash. The group raised loans secured by mortgage bonds to fund the cash considerations. The transactions, including warranties, were concluded on terms typical for this type of transaction. 3. Rationale for the transactions The transactions are in keeping with Ellies` intention to acquire and/or refurbish certain existing properties from which it operated and certain new premises. This is in order to enhance the company`s operational efficiencies. The land was purchased as it is adjacent to premises from which the company operates and is integral to its expansion plans. 4. Pro forma financial effects of the transactions The financial effects of the transactions, which are the responsibility of the directors of Ellies, are not significant and have not been disclosed. 28 June 2011 Sponsor Java Capital (Proprietary) Limited Date: 28/06/2011 16:02:03 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
