Pinnacle - ETEL Telecommunication Solutions (Pty) Ltd Highcourt Verdict
Pinnacle Technology Holdings Limited
(Registration number 1986/000334/06)
Share code: PNC ISIN: ZAE000022570
(`Pinnacle`)
ETEL TELECOMMUNICATION SOLUTIONS (PTY) LTD (`Etel`) HIGHCOURT VERDICT
In accordance with paragraph 3.4 (a) of the Listings Requirements of the JSE
Securities Exchange South Africa, the Board of Directors of Pinnacle hereby
announces the judgment issued by the High Court of South Africa (`High Court`)
in its consideration of an application by Dinkum Technologies Limited and
Valunet Solutions Incorporated, trading as Dinkum USA (collectively `Dinkum`), a
North American Group providing telecommunications services, to instruct Etel, a
wholly owned subsidiary of Pinnacle, to cease the use of certain proprietary
technology in the provision of international telephony services.
The High Court found in favor of Etel and dismissed the application.
In addition, the following awards were granted:
the costs incurred by Etel in defending the application;
Etel`s counterclaim relating to a deposit held by Dinkum with backdated interest
thereon (`counterclaim`); and
the costs incurred by Etel in the execution of the counterclaim.
Midrand
27 January 2005
Sponsor
Grant Thornton Corporate Finance (Proprietary) Limited
Date: 27/01/2005 02:55:05 PM
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