| Tue 4 Sep 2007, 17:25 | | ELI - Ellies Holdings Limited - BEE Transaction |
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JSE
ELI
ELI - Ellies Holdings Limited - BEE Transaction
ELLIES HOLDINGS LIMITED
(formerly Everlight Investments (Pty) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2007/007084/06)
JSE code: ELI ISIN: ZAE000103081
("Ellies" or "the company")
BEE TRANSACTION
Java Capital is authorised to announce that a BEE transaction has been concluded
between existing shareholders of Ellies and Famaatla Industries (Proprietary)
Limited ("Famaatla"), at no cost to the company. Famaatla is 100% black-owned
and its directors are:
- Mahlubi Mazwi (BCom CA(SA)), who has a back-ground in corporate finance and
is a non-executive director on the board of Ellies;
- Jack Phalane (BA, LLB, LLM), an attorney and a partner at Fluxmans Inc.
Famaatla has purchased 15 million shares in the company comprising approximately
6,5% of shares in issue. Famaatla has committed not to dispose of any of its
shares in the next 5 years and to acquire additional shares over time with the
objective of increasing its shareholding to approximately 10% of shares in
issue.
As other black shareholders hold approximately 4,2% of the company, on listing
10,7% of the issued shares of Ellies will be black-owned.
To give effect to a broad based empowerment component of the transaction, 20% of
Famaatla is held for the benefit of the Ellie`s installer school, which has been
established to train historically disadvantaged individuals to start
installation business as outsourced service providers to Ellies.
Johannesburg
4 September 2007
Corporate advisor, legal advisor and designated advisor
Java Capital (Proprietary) Limited
Date: 04/09/2007 17:25:48 Produced by the JSE SENS Department.
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