PNG - Pinnacle Point Group Limited - Update on Pinnacle Point Golf and Beach
PNG
PNG
PNG - Pinnacle Point Group Limited - Update on Pinnacle Point Golf and Beach
Resorts and renewal of 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")
UPDATE ON PINNACLE POINT GOLF AND BEACH RESORTS AND RENEWAL OF CAUTIONARY
ANNOUNCEMENT
Shareholders are referred to the SENS announcement dated 09 June 2011 and are
advised that the proof of funds and guarantees in relation to the proposed sale
of the Pinnacle Point Golf and Beach Resorts were not presented by 30 June 2011
as agreed. The parties have approached the Company to enter into renewed
negotiations to change the terms and conditions and time limits imposed in
relation to this sale. The Board is in the process of considering its options in
this regard and other offers that are being formulated by other interested
parties.
Accordingly, and further to the cautionary announcements dated 24 December 2010,
04 February 2011, 18 March 2011, 29 April 2011 and 28 June 2011 respectively,
shareholders are advised that these negotiations are ongoing and are advised to
continue to exercise caution until a full terms announcement is made.
Johannesburg
08 July 2011
Designated Advisor
Arcay Moela Sponsors (Proprietary) Limited
Date: 08/07/2011 17:15:01 Produced by the JSE SENS Department.
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