Ellerine Bros (Proprietary) Limited
(Registration No. 1960/01074/07)
Ellerine Holdings Limited
(Registration No. 1968/013402/06)
Joint Announcement
1. Eric Ellerine and Sidney Ellerine have elected to resign as directors of
Ellerine Holdings Limited ("the company"). Eric will simultaneously resign as
Chairman of the Board of the company.
2. Eric and Sidney have decided to resign as the demands now made on them by
their other business interests are such that they can no longer commit
sufficient of their time and energy to the company.
3. The company expresses its sincere appreciation to Eric and Sidney for the
many years of loyal and excellent service they have devoted to the company and
wishes them every success in both their personal and business pursuits.
4. It is the intention of the company's board to appoint Denzil McGlashan as
Chairman. Mr McGlashan has been a director of the company since 1987 and is
currently chairman of its insurance company, Customer Protection Insurance
Company Limited and of the Ellerine group's audit committee. Mr McGlashan was
an executive director of Malbak Limited prior to its unbundling and also sat on
the boards of directors of New Clicks Holdings Limited, Tedelex Limited and
Defy (Proprietary) Limited amongst others.
5. Eric and Sidney wish the company every success in its future endeavours.
Corporate adviser to Attorneys to Ellerine Holdings
Ellerine Bros (Proprietary) Limited Limited
Corpcapital Corporate Finance Cliffe Dekker Fuller Moore
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