| Fri 29 Jul 2011, 16:26 | | PNG - Pinnacle Point Group Limited - Application for business rescue |
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PNG
PNG
PNG - Pinnacle Point Group Limited - Application for business rescue
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")
APPLICATION FOR BUSINESS RESCUE
Cape Point Vineyards (Pty) Ltd) have applied through the High Court in Cape Town
for an order to place the Company into business rescue which order was
successful.
The details of the order are as follows:
Before the Honourable Mr Acting Justice Rogers on Thursday 28 July 2011:
Case no: 12746/2011
In the matter between:
CAPE POINT VINEYARDS (PTY) LTD ("Applicant")
And
PINNACLE POINT GROUP LIMITED ("First Respondent")
THE COMPANIES AND INTELLECUTAL PROPERTY COMMISSION ("Second Respondent")
And in the matter between:
ATVANTAGE PROJECT MANAGERS (PTY) LTD ("Intervening Party")
Having heard counsel for the Applicant and the Intervening Party, it is ordered
that:
1 The Applicant`s non-compliance with the forms and service provided for in
Rule 6 of the Uniform Rules of Court be condoned and that this matter be
heard as one of urgency in terms of Rule 6(12) thereof.
2 The First Respondent is placed under supervision and that the business
rescue proceedings commence as envisaged in terms of the Companies Act, 71
of 2008 ("the Act").
3 Mr Michael John Lane be appointed as the business rescue practitioner to
conduct the business of the First Respondent with all the powers and duties
entrusted to him in terms of the Act.
4 The Applicant gives notice of this order in the following manner:
4.1 by notifying creditors of the First Respondent of this order, within
five days of this order having been granted, by way of electronic
mail;
4.2 by notifying shareholders of the First Respondent, within five days of
this order having been granted, by way of:
4.2.1 electronic publication on the SENS publication service, provided
by the Johannesburg Stock Exchange;
4.2.2 electronic mail, to such shareholders` whose electronic mail
addresses are known to the Applicant.
4.3 by serving a copy of the order on the First Respondent at it s
registered office at Arcam, 3 Annalie Road, Parktown, Johannesburg,
2193, within five days of this order having been granted;
4.4 by notifying the employees of the First Respondent, by way of
attaching a copy of this order to the First Respondent`s notice board,
alternatively a prominent and visible place at the offices of the
First Respondent situated at its principal place of business at Ground
Floor, Travers House, Boundary Terraces, 1 Mariendahl Lane, Newlands,
Cape Town, within five days of this order having been granted.
4.5 by publication of this order in one publication of the Business Day,
within five days of this order having been granted.
5 The Court reserves judgement on the question of costs.
BY ORDER OF THE COURT
COURT REGISTRAR
A copy of the order is available for inspection at the Company`s registered
address.
Johannesburg
29 July 2011
Designated Advisor
Arcay Moela Sponsors (Proprietary) Limited
Date: 29/07/2011 16:26:01 Produced by the JSE SENS Department.
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