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PNG - Pinnacle Point Group Limited - Claw back offer finalisation announcement

Release Date: 17/06/2011 16:51
Code(s): PNG
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PNG - Pinnacle Point Group Limited - Claw back offer finalisation announcement Pinnacle Point Group Limited (Incorporated in the Republic of South Africa) (Registration No: 2000/000059/06) Share code: PNG ISIN code: ZAE000127122 ("Pinnacle" or "the company") CLAW BACK OFFER FINALISATION ANNOUNCEMENT 1. Introduction Shareholders are referred to the announcements dated 30 December 2010 and 18 April 2011 detailing the announcement by Pinnacle of its intention to undertake a Claw Back Offer of 1 300 000 000 shares in the ratio of 18.54197 (eighteen point five four one nine seven) new Pinnacle ordinary shares for every 100 Pinnacle ordinary shares held at 1 cent per share. 2. Conditions Precedent The board of directors of Pinnacle is pleased to confirm that all conditions precedent relating to the claw back offer have been fulfilled and that the claw back offer will be implemented in accordance with the timetable set out in paragraph 3 below. 3. Salient Dates The salient dates and times of the claw back offer are as follows: 2011 Last day to trade in Pinnacle Point shares in order to qualify to participate in the Claw Back Offer (cum entitlement) on Friday, 24 June Listing of and trading in the Letters of Allocation on the JSE commences at 09:00 on Monday, 27 June Pinnacle Point shares commence trading ex-claw back rights on the JSE at commencement of trading on Monday, 27 June Record date for participation in the Claw Back Offer at the close of trade on Friday, 01 July Claw Back Offer circular and form of instruction posted to shareholders, where applicable Monday, 04 July Claw Back Offer opens at commencement of trading on Monday, 04 July
Dematerialised shareholders` accounts at their CSDP or broker automatically credited with their entitlement Monday, 04 July Certificated shareholders` entitlements will be credited to an account held with the transfer secretaries Monday, 04 July Last day to trade in letters of allocation on the JSE on Friday, 15 July
Trade by dematerialised shareholders in the Claw Back offer shares commences Monday, 18 July Claw Back Offer closes - payments to be made and form of instruction in respect of letters of allocation lodged by certificated shareholders by 12:00 on Friday, 22 July Record date for letters of allocation Friday, 22 July Dematerialised shareholders` accounts updated with Claw Back shares to the extent accepted and debited with the relevant costs by their CSDP or broker and new Pinnacle Point share certificates posted to certificated shareholders (see note 5) on Monday, 25 July Results of Claw Back Offer announcement on SENS on or about Monday, 25 July
Notes: 1. Dematerialised shareholders are required to notify their duly appointed CSDP or broker of their acceptance or otherwise of the Claw Back Offer in the manner and time stipulated in the agreement governing the relationship between such shareholder and their CSDP or broker 2. All times indicated are South African times unless otherwise stated. 3. Share certificates may not be dematerialised or rematerialised between Monday, 27 June 2011 and Friday, 01 July 2011, both days inclusive. 4. The CSDP/broker accounts of dematerialised shareholders will be automatically credited with new Pinnacle Point shares to the extent to which they have accepted the Claw Back Offer. Pinnacle Point share certificates will be posted, by registered post at the shareholders` risk within 7 (seven) days of receipt, to certificated shareholders in respect of the Claw Back Offer shares which have been accepted. 5. CSDPs or brokers effect payment in respect of dematerialised shareholders on a delivery versus payment method. 4. Circular A circular setting out the detailed terms of the claw back offer and enclosing, where applicable, a form of instruction, will be posted to shareholders on Friday, 04 July 2011. Johannesburg 17 June 2011 Designated Advisor Arcay Moela Sponsors (Proprietary) Limited Date: 17/06/2011 16:51:18 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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