ELI - Ellies Holdings Limited - Further Update On The Rights Offer
ELI
ELI
ELI - Ellies Holdings Limited - Further Update On The Rights Offer
Ellies Holdings Limited
Registration No. 2007/007084/06
Share code: ELI ISIN code: ZAE000103081
("Ellies" or "the company")
FURTHER UPDATE ON THE RIGHTS OFFER
Shareholders are advised that all conditions precedent to the rights offer
announced on 25 February 2010 ("the announcement") have been fulfilled.
As set out in the announcement the rights offer is being undertaken to raise
R100 million, R64 968 273 of which will be used to discharge amounts due to
the vendor of the business conducted by Megatron Federal (Proprietary)
Limited, in terms of the acquisition agreement entered into on 30 November
2007. The balance of the amount raised will be used by the company to fund
the company`s current expansion programs, including the Digital Terrestrial
migration, expansion into domestic appliances, growth of electrical ranges,
and satellite-related business expected in 2010.
The rights offer will be implemented in accordance with the timetable
detailed in the announcement.
11 March 2010
Corporate advisor, legal advisor and designated advisor
Java Capital (Proprietary) Limited
Date: 11/03/2010 17:05:02 Produced by the JSE SENS Department.
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