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PNG
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PNG - Pinnacle - Change To The Board Of Directors
PINNACLE POINT GROUP LIMITED
(Formerly Acc-Ross Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2000/000059/06)
Share code: PNG & ISIN: ZAE000127122
("Pinnacle" or "the company")
CHANGE TO THE BOARD OF DIRECTORS
In compliance with section 3.59 of the Listings Requirements of the JSE Limited,
the board of directors of Pinnacle are pleased to announce the appointment of Dr
Khater Massaad to the board as a non-executive director with immediate effect.
Dr Massaad is a representative of Rakeen Development PJSc ("Rakeen"), a
strategic shareholder in Pinnacle.
Dr Massaad was instrumental along with H.H. Sheikh Saud Bin Saqr Al Qassimi, the
Crown Prince and Deputy Ruler of Ras Al Khaimah, in founding RAK Ceramics in
1991. RAK Ceramics has become the topmost ceramic manufacturing organisation in
the world.
Dr Massaad`s career started in The Middle East in early eighties when he
commenced geophysical investigations for clay deposits, dams and water in the
GCC and Levant countries. He was assigned the position of "Project Manager" for
various underground water projects in the United Arab Emirates and in the
Sultanate of Oman.
In 2004 RAK Ceramics was chosen as the "Arabian Business" Company of the year
and in 2005 was awarded the Mohammed Bin Rashid Al Maktoum Business Award (MRM
Business Award). In 2006 it was rated one of the top four brands of the UAE and
topmost brand in the manufacturing sector.
In August 2007 Dr Massaad was conferred with the FDI personality of the year
award. As CEO of RAK Ceramics Dr. Massaad implemented the globalisation of the
company`s business and conceived a rapid diversification programme, which
encompassed high value investment ventures in the hotel & tourism industry,
computer hardware industry, and high value consumer products such as exclusive
porcelain ware.
In 2003 he was appointed as the Advisor to The Crown Prince & Deputy Ruler of
the Emirate of Ras Al Khaimah. His Highness Shaikh Saud Bin Saqr Al Qassimi. As
CEO of the RAK Investment Authority (RAKIA) he plays a key role in the rapid
development of the Emirates, a position which he was appointed to in 2005. RAKIA
has attracted more that US$1 billion in industrial investments into Ras Al
Khaimah.
Dr Massaad is also Executive Chairman of Rakeen, the land master planner and
developer in real estate and township development in the Emirates and also other
foreign countries. As Managing Director of Al Hamra Fort Hotel & Beach Resort Dr
Massaad has played a major role in the tourism sector for the Emirate of Ras Al
Khaimah. He is also the Managing Director of RAK Airways and the Al Hamra Real
Estate Development LLC.
Dr Massaad holds a Master`s degree in Engineering and a Ph.d in Geophysics. He
is also a professional pilot.
The board looks forward to the business expertise which Dr Massaad will add to
the board of Pinnacle.
Johannesburg
20 March 2009
Designated Advisor
Arcay Moela Sponsors (Pty) Ltd
Registration Number: 2006/033725/07
Date: 20/03/2009 13:49:01 Produced by the JSE SENS Department.
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