PINNACLE HOLDINGS LIMITED - Acceptance of forfeitable share grants to directors

Acceptance of forfeitable share grants to directors

Pinnacle Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1986/000334/06
Share Code: PNC
ISIN: ZAE000184149
(“Pinnacle” or “The Company”)

ACCEPTANCE OF FORFEITABLE SHARE GRANTS TO DIRECTORS

In compliance with the JSE Limited Listings Requirements, the following information is disclosed:

 DIRECTORS OF PINNACLE HOLDINGS LIMITED
 Name                         P Spies
 Office held                  Chief Executive Officer
 Company                      Pinnacle Holdings Limited
 Date of acceptance           14 December 2016
                              Off-market acceptance of conditional share grants vesting on or
 Nature of transaction
                              after 24 November 2019
 Class of securities          Ordinary shares
 Number of forfeitable shares 360 000
 Award price                  R17.9189
 Total value of award         R6 450 804
 Nature of interest           Direct beneficial
 Clearance obtained           Yes

 Name                                  RD Lyon
 Office held                           Chief Financial Officer
 Company                               Pinnacle Holdings Limited
 Date of acceptance                    14 December 2016
                                       Off-market acceptance of conditional share grants vesting on or
 Nature of transaction
                                       after 24 November 2019
 Class of securities                   Ordinary shares
 Number of forfeitable shares          210 000
 Award price                           R17.9189
 Total value of award                  R3 762 969
 Nature of interest                    Direct beneficial
 Clearance obtained                    Yes

 DIRECTORS OF MAJOR SUBSIDIARIES
 Name                         CB Brunsden
 Office held                  Managing Director
 Company                      Axiz (Pty) Ltd
 Date of acceptance           14 December 2016
                              Off-market acceptance of conditional share grants vesting on or
 Nature of transaction
                              after 24 November 2019
 Class of securities          Ordinary shares
 Number of forfeitable shares 100 000
 Award price                  R17.9189
 Total value of award         R1 791 890
 Nature of interest           Direct beneficial
 Clearance obtained           Yes
Name                           JV Parkin
Office held                    Chief Commercial Officer
Company                        Axiz (Pty) Ltd
Date of acceptance             14 December 2016
                               Off-market acceptance of conditional share grants vesting on or
Nature of transaction
                               after 24 November 2019
Class of securities            Ordinary shares
Number of forfeitable shares   50 000
Award price                    R17.9189
Total value of award           R895 945
Nature of interest             Direct beneficial
Clearance obtained             Yes

Name                           CY Li
Office held                    Finance Director
Company                        Axiz (Pty) Ltd
Date of acceptance             14 December 2016
                               Off-market acceptance of conditional share grants vesting on or
Nature of transaction
                               after 24 November 2019
Class of securities            Ordinary shares
Number of forfeitable shares   40 000
Award price                    R17.9189
Total value of award           R716 756
Nature of interest             Direct beneficial
Clearance obtained             Yes

Name                           S Marx
Office held                    Director
Company                        Pinnacle Micro (Pty) Ltd
Date of acceptance             14 December 2016
                               Off-market acceptance of conditional share grants vesting on or
Nature of transaction
                               after 24 November 2019
Class of securities            Ordinary shares
Number of forfeitable shares   70 000
Award price                    R17.9189
Total value of award           R1 254 323
Nature of interest             Direct beneficial
Clearance obtained             Yes

Name                           TP Humphreys-Davies
Office held                    Managing Director
Company                        Pinnacle Micro (Pty) Ltd
Date of acceptance             14 December 2016
                               Off-market acceptance of conditional share grants vesting on or
Nature of transaction
                               after 24 November 2019
Class of securities            Ordinary shares
Number of forfeitable shares   170 000
Award price                    R17.9189
Total value of award           R3 046 213
 Nature of interest                  Direct beneficial
 Clearance obtained                  Yes

 Name                                WJ Smit
 Office held                         Director
 Company                             Pinnacle Micro (Pty) Ltd
 Date of acceptance                  14 December 2016
                                     Off-market acceptance of conditional share grants vesting on or
 Nature of transaction
                                     after 24 November 2019
 Class of securities                 Ordinary shares
 Number of forfeitable shares        50 000
 Award price                         R17.9189
 Total value of award                R895 945
 Nature of interest                  Direct beneficial
 Clearance obtained                  Yes

 Name                                GJ Wiehahn
 Office held                         Financial Director
 Company                             Pinnacle Micro (Pty) Ltd
 Date of acceptance                  14 December 2016
                                     Off-market acceptance of conditional share grants vesting on or
 Nature of transaction
                                     after 24 November 2019
 Class of securities                 Ordinary shares
 Number of forfeitable shares        70 000
 Award price                         R17.9189
 Total value of award                R1 254 323
 Nature of interest                  Direct beneficial
 Clearance obtained                  Yes


Midrand
21 December 2016


Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

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