Ellies Holdings has agreed to buy 100% of Bundu Power, a company that specialises in alternative power solutions, for a maximum R202.6-million.
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Ellies Holdings cautioned investors on Wednesday that it is in negotiations about potential acquisitions in the solar and renewable energy sectors.
Ellies Holdings said on Monday that it will embark on a “formal consultation process” with employees under the Labour Relations Act.
Shares in JSE-listed electronics group Ellies Holdings plunged as much as 44% on Friday after it issued a weaker-than-expected trading update.
Promoted | With the 15% hike in the price of electricity this month, the requirement for a powerful, long-term energy solution is more than just about having a reliance source of power: It is a bottom-line essential.
Promoted | Cheaper is not necessarily a wise decision when it comes to solar. While you shop around, here is a shortlist of the questions you should ask to probe cost comparisons.
Promoted | With the power of the sun as a reliable source of energy, the lack of electricity supply in South Africa is no longer a setback.
Promoted | In the solar market, myths and misunderstanding have acted as handbrakes to adoption. Ellies is determined to change that with facts.
Promoted l Ellies’ interim financial results for the six months to 31 October 2020 are evidence that the turnaround strategy is working.
The future of JSE-listed electronics and technology group Ellies is in some doubt after it warned this week that Covid-19 has cast “material uncertainty” over its ability to continue as a going concern.