PNG - Pinnacle Point Group Limited - Application for business rescue

PNG - Pinnacle Point Group Limited - Application for business rescue            
PINNACLE POINT GROUP LIMITED                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration Number 2000/000059/06)                                            
JSE Share code: PNG                                                             
NSE Share code: PNG                                                             
ISIN: ZAE000127122                                                              
("Pinnacle Point" or the "Company")                                             
APPLICATION FOR BUSINESS RESCUE                                                 
Cape Point Vineyards (Pty) Ltd) have applied through the High Court in Cape Town
for an order to place the Company into business rescue which order was          
successful.                                                                     
The details of the order are as follows:                                        
Before the Honourable Mr Acting Justice Rogers on Thursday 28 July 2011:        
Case no: 12746/2011                                                             
In the matter between:                                                          
CAPE POINT VINEYARDS (PTY) LTD ("Applicant")                                    
And                                                                             
PINNACLE POINT GROUP LIMITED ("First Respondent")                               
THE COMPANIES AND INTELLECUTAL PROPERTY COMMISSION ("Second Respondent")        
And in the matter between:                                                      
ATVANTAGE PROJECT MANAGERS (PTY) LTD ("Intervening Party")                      
Having heard counsel for the Applicant and the Intervening Party, it is ordered 
that:                                                                           
1    The Applicant`s non-compliance with the forms and service provided for in  
    Rule 6 of the Uniform Rules of Court be condoned and that this matter be    
    heard as one of urgency in terms of Rule 6(12) thereof.                     
2    The First Respondent is placed under supervision and that the business     
    rescue proceedings commence as envisaged in terms of the Companies Act, 71  
    of 2008 ("the Act").                                                        
3    Mr Michael John Lane be appointed as the business rescue practitioner to   
conduct the business of the First Respondent with all the powers and duties 
    entrusted to him in terms of the Act.                                       
4    The Applicant gives notice of this order in the following manner:          
    4.1  by notifying creditors of the First Respondent of this order, within   
five days of this order having been granted, by way of electronic      
         mail;                                                                  
    4.2  by notifying shareholders of the First Respondent, within five days of 
         this order having been granted, by way of:                             
4.2.1     electronic publication on the SENS publication service, provided  
              by the Johannesburg Stock Exchange;                               
    4.2.2     electronic mail, to such shareholders` whose electronic mail      
              addresses are known to the Applicant.                             
4.3  by serving a copy of the order on the First Respondent at it s         
         registered office at Arcam, 3 Annalie Road, Parktown, Johannesburg,    
         2193, within five days of this order having been granted;              
    4.4  by notifying the employees of the First Respondent, by way of          
attaching a copy of this order to the First Respondent`s notice board, 
         alternatively a prominent and visible place at the offices of the      
         First Respondent situated at its principal place of business at Ground 
         Floor, Travers House, Boundary Terraces, 1 Mariendahl Lane, Newlands,  
Cape Town, within five days of this order having been granted.         
    4.5  by publication of this order in one publication of the Business Day,   
         within five days of this order having been granted.                    
5    The Court reserves judgement on the question of costs.                     
BY ORDER OF THE COURT                                                           
COURT REGISTRAR                                                                 
A copy of the order is available for inspection at the Company`s registered     
address.                                                                        
Johannesburg                                                                    
29 July 2011                                                                    
Designated Advisor                                                              
Arcay Moela Sponsors (Proprietary) Limited                                      
Date: 29/07/2011 16:26:01 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.