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PNC - Pinnacle Technology Holdings Limited - Update announcement on acquisition

Release Date: 21/10/2011 16:29
Code(s): PNC
Wrap Text

PNC - Pinnacle Technology Holdings Limited - Update announcement on acquisition of Explix Business Solutions Proprietary Limited 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") UPDATE ANNOUNCEMENT ON ACQUISITION OF EXPLIX BUSINESS SOLUTIONS PROPRIETARY LIMITED ("EXPLIX") Shareholders are referred to the terms announcement released on SENS on Monday, 17 October 2011 and in the press on Tuesday, 18 October 2011 regarding the acquisition of Explix, (previously Moyahabo Digital Solutions Proprietary Limited) from Sebmat Investment Group Proprietary Limited and Blade Financial Services Proprietary Limited, ("the transaction"). Shareholders are advised that the independent expert, Mazars Corporate Finance (Pty) Limited has concluded that the terms of the transaction are fair and the fairness opinion has been approved by the JSE Limited. The fairness opinion is available for inspection at the Company`s registered office for 28 days from the date of this announcement. Midrand 21 October 2011 Sponsor Deloitte & Touche Sponsor Services (Pty) Limited Independent expert Mazars Corporate Finance (Pty) Limited Date: 21/10/2011 16:29:01 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.

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