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PINNACLE HOLDINGS LIMITED - Annual General Meeting (AGM) - withdrawal of resolution and correction of disclosure

Release Date: 23/11/2015 15:48
Code(s): PNC     PDF:  
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Annual General Meeting (“AGM”) - withdrawal of resolution and correction of disclosure

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

ANNUAL GENERAL MEETING (“AGM”) - WITHDRAWAL OF RESOLUTION AND CORRECTION OF DISCLOSURE

As regards the AGM of the Company, to be held on 3 December 2015, shareholders are advised that the following
resolution has been withdrawn:

Ordinary Resolution 3.3: The re-appointment of Mr E van der Merwe as a member of the Audit and Risk Committee
(the “Committee”).

As communicated to shareholders on 22 October 2015, Mr Van der Merwe has stepped down from the Committee, as
he is no longer independent due to his advisory role in acquisitions and corporate finance. The Committee will
comprise of the remaining members. The Committee remains compliant with the King III requirement in that the three
remaining members are all Independent-Non Executive directors.

Shareholders are further advised that in terms of Ordinary Resolutions 2.1 and 3.2 Ms SH Chaba stands for re-
appointment as an Independent Non-Executive director and a member of the Audit and Risk Committee respectively.
The total directors fees received by Ms SH Chaba for the year ended 30 June 2015 was R184 000, as disclosed in note
30.2 in the Annual Report. An amount of R172 000 was incorrectly reflected as Equity Based Compensation paid to Ms
Chaba and is not included in the total of R 184 000. Independent Non-Executive Directors do not receive equity-based
compensation. An errata letter will be sent to shareholders in this regard.


Midrand
23 November 2015

Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

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