ELLIES HOLDINGS LIMITED - Update on resignation of chief executive officer (CEO)

Update on resignation of chief executive officer (“CEO”)

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 RESIGNATION OF CHIEF EXECUTIVE OFFICER (“CEO”)


Shareholders are referred to the announcement released on SENS on 20 November 2017, regarding the
resignation of the company’s CEO and are advised that as an interim measure, the chief financial director
(“CFO”) Adrian Bock and the executive chairman, Elliot Salkow will take on the role of joint CEO of
Ellies.

Dispensation has been obtained from the JSE for Adrian Bock to continue in his role as CFO and joint CEO;
and for Elliot Salkow to take on the role as both executive chairman of the board (with Oliver Fortuin as the
lead independent non-executive director) and joint CEO during this interim period (which period will not
extend beyond 30 April 2018).

The board of directors believes that this interim measure will ensure the continuity of the turnaround
strategy and the future growth of Ellies. In addition, a formal process to identify and appoint a suitable
replacement CEO or a suitable replacement CFO will be undertaken and a further announcement will be
released in due course.

28 November 2017


Sponsor
Java Capital

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