To view the PDF file, sign up for a MySharenet subscription.

Pinnacle Technology Holdings Limited - Withdrawal Of Cautionary Announcement

Release Date: 05/05/2004 07:15
Code(s): PNC
Wrap Text

Pinnacle Technology Holdings Limited - Withdrawal Of Cautionary Announcement Pertaining To A Specific Issue Of Shares For Cash To A Black Economic Empowerment ("Bee") Entity Pinnacle Technology Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1986/000334/06) Share code: PNC ISIN: ZAE000022570 ("Pinnacle" or "the company") WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT PERTAINING TO A SPECIFIC ISSUE OF SHARES FOR CASH TO A BLACK ECONOMIC EMPOWERMENT ("BEE") ENTITY Further to the cautionary announcement dated 15 March 2004, regarding an investment by a BEE entity in Pinnacle by way of a specific issue of shares for cash, the BEE entity has been unable to secure the funding to facilitate its proposed investment in the company, on sufficiently favourable terms, and the discussions have unfortunately been terminated as a result. Pinnacle remains totally committed to the principle of BEE, and is engaged in preliminary discussions with other BEE entities. Shareholders will be timeously advised as soon as any of these discussions reach an advanced stage. Pinnacle shareholders are accordingly advised that caution is no longer required to be exercised when dealing in their securities on the JSE Securities Exchange South Africa. Midrand 5 May 2004 Sponsor Grant Thornton Corporate Finance (Proprietary) Limited Date: 05/05/2004 07:15:07 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

Share This Story