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ELLIES HOLDINGS LIMITED - Changes to the board of directors

Release Date: 05/04/2019 13:00
Code(s): ELI     PDF:  
Wrap Text
Changes 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")

CHANGES TO THE BOARD OF DIRECTORS

The board of directors (the "Board") is committed to turning around the Company with the focus on optimising and
enhancing current profitability for all shareholders. In this regard the Board has reconstituted and appointed a 
number of respected and experienced new members with effect from 4 April 2019.

Francois Olivier, a portfolio manager at Mazi Asset Management Proprietary Limited has been appointed as a non-executive
director. Mr Olivier has 19 years of investment research and portfolio management experience, six years of which were
spend in the USA. He is a chartered accountant and CFA charter holder.

Edward Raff has been appointed as a non-executive director. He has extensive financial and commercial experience and
previously worked in investment banking, most recently at Rothschild & Co. Prior to this he served as a senior executive
in corporate finance at AngloGold Ashanti for almost 10 years. Mr Raff holds a B Comm, BSc Honours in Advanced
Mathematics of Finance, H Dip Tax, H Dip Man and has completed all 3 CFA levels.

Timothy Fearnhead has been appointed as a non-executive director and chairman of the Board. Mr Fearnhead is a chartered
accountant and was a partner at Deloitte for over 20 years. He served in various executive roles within the Nedbank group
between 1997 to 2006 and currently serves as an independent non-executive director to two listed companies.

The CEO, Dr. Shaun Prithivirajh has been reappointed as an executive director. Christiaan Booyens the current interim
chief financial officer ("CFO"), has been appointed as an executive director and will continue as the CFO.

Mr. Elliott Salkow ("Ellie") will take on a non-executive director role on the Board and will relinquish fulltime duties at
the Company. The Company is grateful to Ellie for his invaluable contribution and looks forward to his strategic guidance
at board level going forward.

Shareholders are advised that all above director appointments will be submitted to shareholders for approval at a general
meeting. The notice of meeting will be delivered to shareholders in due course

The Board welcomes the new directors and looks forward to their contribution to the Company.

5 April 2019

Sponsor

Java Capital

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