PNG - Pinnacle Point Group Limited - Update announcement and renewal of
PNG
PNG
PNG - Pinnacle Point Group Limited - Update announcement 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 ANNOUNCEMENT AND RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are advised that five of the group`s subsidiary companies have
been placed in provisional liquidation following the applications for
liquidation by Investec Bank Limited following the decision by the business
rescue practitioner to withdraw the opposition to the various applications.
The return date for making the order final is 2 November 2011. The companies
placed in provisional liquidation are the following:
Pinnacle Point Resorts (Pty) Ltd;
Festival Bay Trading 55 (Pty) Ltd;
Clarens Golf and Trout Estate (Pty) Ltd;
Pinnacle Point Investments (Pty) Ltd; and
Eagle Creek Investments 74 (Pty) Ltd
However, shareholders are advised that certain affected parties are bringing
business rescue applications for the various subsidiaries listed above which
is set down to be heard on 1 September 2011 and shareholders will be kept
informed of developments in due course
Accordingly, shareholders should continue to exercise caution in dealing in
their shares until a further announcement is made.
Johannesburg
22 August 2011
Designated Advisor
Arcay Moela Sponsors (Proprietary) Limited
Date: 22/08/2011 14:00:01 Produced by the JSE SENS Department.
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