PNG - Pinnacle Point Group Limited - Cautionary announcement
PNG
PNG
PNG - Pinnacle Point Group Limited - Cautionary announcement
PINNACLE POINT GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2000/000059/06)
JSE Share code: PNG
NSE Share code: PNG
ISIN: ZAE000127122
("Pinnacle Point" or the "Company")
CAUTIONARY ANNOUNCEMENT
Shareholders are advised that the board of directors have been informed that a
creditor and shareholder/s intends launching an application for a business
rescue, although the company has not yet received any official notification
thereof. The company application is intended to be in the interests of
creditors and shareholders to afford the company time in order to restructure
its affairs, business, property, debt and other liabilities, and equity in a
manner that maximises the likelihood of the Company continuing in existence on a
solvent basis.
Shareholders are also advised that a number of initiatives have commenced, and
are being pursued in order to recapitalise the Company and provide funding to
facilitate working capital and growth, which may remove the necessity for such
an application.
Shareholders will be informed of further developments in due course.
Accordingly, shareholders are advised to exercise caution when dealing in their
shares until a further announcement is made.
Johannesburg
09 June 2011
Designated Advisor
Arcay Moela Sponsors (Proprietary) Limited
Date: 09/06/2011 16:08:00 Produced by the JSE SENS Department.
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