ELLIES HOLDINGS LIMITED - Change to the board of directors

Change to the board of directors

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")

CHANGE TO THE BOARD OF DIRECTORS

Shareholders are referred to the announcement released on 11 December 2018, wherein shareholders were advised that
that as a result of being appointed as directors of Ellies after the notice of annual general meeting was issued, the
appointment of Reshoketswe Ralebepa and Ian Russell as directors of Ellies was not put to shareholders for confirmation
at the annual general meeting held on Friday, 7 December 2018 ("AGM"). As a consequence, Reshoketswe Ralebepa
and Ian Russell ceased to be directors at the AGM and two vacancies arose on the board at that time. In order to 
avoid the number of directors falling below the minimum number of directors required by the company's memorandum of
incorporation, the board of directors opted, prior to the AGM, to fill such vacancies immediately as they arose by
reappointing Reshoketswe Ralebepa and Ian Russell as directors. These board resolutions and the validity of the re-
appointment of Reshoketswe Ralebepa and Ian Russell are both presently in dispute by certain of the shareholders.

Shareholders are further advised that on Monday, 14 January 2019, Reshoketswe Ralebepa requested the board of
directors to amend the company records to no longer reflect her as a director of the company with effect from 
7 December 2018 due to the current dispute as to the validity of her re-appointment as a director of Ellies.

16 January 2019

Sponsor

Java Capital

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