Johannesburg - Shares in Ellies Holdings [JSE:ELI] tanked nearly 20% on Monday after the maker of television aerials said it would delay repaying its debt until it has raised money through selling assets and a rights issue.
Ellies reported a full-year loss in July for the year to April impacted by delays in projects that the company had banked on such as the move to digital television from analog and a slow uptake in its satellite television platform.
At 16:40, the company's shares have skidded to levels last seen four years ago, sliding 15.14% to R1.57.