September 21, 2014 1:17 PM ET

Specialty Retail

Company Overview of Ellerine Holdings Ltd.

Company Overview

Ellerine Holdings Ltd. operates a chain of furniture stores in South Africa, Botswana, Lesotho, Namibia, Swaziland, and Zambia. It also provides personal loan services. Ellerine Holdings Ltd. was founded in 1968 and is headquartered in Johannesburg, South Africa. As of January 22, 2008, Ellerine Holdings Ltd. operates as a subsidiary of African Bank Investments Limited.

EHL Building

14a Charles Crescent

Eastgate ext 4

Johannesburg,  2090

South Africa

Founded in 1968

17,198 Employees

Key Executives for Ellerine Holdings Ltd.

Chief Executive Officer
Age: 55
Chief Financial Officer
Age: 65
Chief Operating Officer
Age: 63
Chief Executive of Value Retail Division
Age: 55
Chief Executive of Universal Credit Retail Division
Age: 56
Compensation as of Fiscal Year 2014.

Ellerine Holdings Ltd. Key Developments

Abil May Sell Ellerine

African Bank Investments Limited (JSE:ABL) Chief Executive Officer Leon Kirkinis said that African Bank could raise capital in three ways - by selling Ellerine Holdings Ltd. through internal profit generation or via and strategic initiatives that would be announced at a later stage. Kirkinis told Business Day a rights issue was not off the table, but if the company sold Ellerines that would take care of the drag on capital. Analysts have said Abil will battle to sell Ellerines. Kirkinis disagrees, saying Abil will be able to find a buyer.

Ellerine Holdings Limited Announces Executive Changes, Effective March 1, 2014

ABIL announced the appointment of Mano Moodley as Chief Executive Officer of a subsidiary, Ellerine Holdings Limited ("EHL"), and Alan Schlesinger as non-executive Chairman of EHL, with effect from March 1, 2014. Mano, 54, brings a wealth of retail business knowledge gained from over 30 years" experience in various business leadership, business turnaround, transformation and retail chain management roles. He most recently served as the Chief Executive for Group Sourcing and Planning at Edcon Holdings Limited. Alan is currently executive director of companies in the Intafin Group which he founded in 1998, after 20 years of senior corporate experience.

African Bank Plans to Sell Ellerine

African Bank Investments Limited (JSE:ABL) is planning to sell Ellerine Holdings Ltd, but is keen to retain the financial services part of the business and the distribution footprint to sell loans, its chief executive said on February 5, 2014.

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