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PINNACLE HOLDINGS LTD - Recomposition of the Remuneration Committee

Release Date: 13/02/2015 13:00
Code(s): PNC     PDF:  
Wrap Text
Recomposition of the Remuneration Committee

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

RECOMPOSITION OF THE REMUNERATION COMMITTEE

In terms of the JSE Listings Requirements the Board of Pinnacle is required to appoint a
Remuneration Committee. The King III code outlines the composition of the Remuneration
Committee which should only comprise board members and have a majority of non-
executive directors. The majority of the non-executive directors serving on the
Remuneration Committee should be independent. The chairman of the board may be a
member of the Committee but is not allowed to chair it.

The Board is cognisant that the selection of the Remuneration Committee and determined
composition is essential to formalise and oversee the implementation of a Remuneration
Policy that subscribes to both the guidelines of King III and to international best practice.

The Board is therefore pleased to announce that the Remuneration Committee has been
reconstituted as follows, effective 12 February 2015:

Ms. N Medupe          (Chair)       Independent Non- Executive Director
Ms. S Chaba           (Member)      Independent Non- Executive Director
Mr. A Tugendhaft      (Member)      Non- Executive Director

Mr. E van der Merwe steps down from the Remuneration Committee with effect from 12
February 2015.


Midrand
13 February 2015
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd

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