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PINNACLE HOLDINGS LTD - Appointment of an independent non-executive director

Release Date: 29/08/2014 17:30
Code(s): PNC     PDF:  
Wrap Text
Appointment of an independent non-executive director

Pinnacle Holdings Limited
(Previously Pinnacle Technology Holdings Limited)
Registration number 1986/000334/06
Share Code: PNC
ISIN: ZAE000184149
(“Pinnacle” or “Pinnacle Group” or “the Company”)

APPOINTMENT OF AN INDEPENDENT NON- EXECUTIVE DIRECTOR

Further to the announcement released on SENS on 24 June 2014 and in compliance with paragraph
3.59 of the Listings Requirements of the JSE limited, shareholders are hereby notified of the
following changes to the board of directors of the Company which became effective on 29 August
2014.

Ms Ndumi Medupe has been appointed as an independent non-executive director and chairperson
of the Audit and Risk Committee. In compliance with principal 3.2 of King III Report on Corporate
Governance, which requires that all members of the Audit Committee must be independent non-
executive directors, Mr A Tugendhaft, who served as Chairman of the Committee has stepped down
from the Committee, but will continue to attend Audit and Risk Committee meetings as a permanent
invitee.

A brief biography of Ms Ndumi Medupe (43) is as follows: Qualifications: B Acc (KZN University); Post
Graduate Diploma in Accountancy (KZN University); and a CA (SA). Ms Medupe is a founder and
director of Indyebo Consulting (Pty) Ltd. Her areas of expertise include Governance, Risk,
Compliance, Audit and Financial Management. She is currently a member of the South African
Institute of Chartered Accountants, the Institute of Directors and the Institute of Internal Auditors.
Due to her extensive experience in practice and through her roles on various boards, Ms Medupe
will significantly add to the overall management of governance, risk, compliance and audit in her
new role.

Subsequent to the aforementioned changes, the Audit and Risk Committee will comprise: Ndumi
Medupe CA (SA) (Independent Non-executive director) - Chairperson, Mr E van der Merwe CA (SA)
(Independent-Non-executive director) and Ms S Chaba (Independent Non-executive director).

The Board welcomes Ms Medupe in her new role and looks forward to her contribution.

Midrand

29 August 2014

Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd

Date: 29/08/2014 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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