PNC
PNC
Pinnacle Technology Holdings Limited - Acquisition announcement
Pinnacle Technology Holdings Limited
Registration number 1986/000334/06
Share Code: PNC
ISIN: ZAE000022570
("Pinnacle")
Acquisition announcement
Pinnacle has entered into an agreement to acquire 50,1% of the shareholding
of Datanet Infrastructure Group (Pty) Limited ("Datanet"). The acquisition
is considered to be a strategic investment which will enable Pinnacle to
broaden its product offering to clients. The transaction is subject to
inter alia Competition Commission approval.
Datanet supplies products primarily for structured cabling solutions, 19"
racking systems, purpose build electronic enclosures and complementary
infrastructure products such as media converters, optical fibre CCTV and co
axial for telecommunication-, data- and telephony applications. The
products are specifically designed in accordance with international
standards and the highest performance levels available, enabling current
and foreseeable requirements to be met and exceeded wherever possible.
Datanet"s range of high quality products, combined with the company"s
commitment to service excellence, has placed it at the forefront of its
field in Southern Africa. The "One-Stop-Shop" concept offers a complete
product portfolio and comprehensive national support service. The company
has a turnover in excess of R100 million.
The transaction falls below the threshold of the categorisation of
transactions which require disclosure in terms of the JSE Limited"s
Listings Requirements. Nevertheless, due to the strategic nature of this
acquisition, the directors deemed it appropriate to inform shareholders.
Midrand
30 October 2006
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
Date: 30/10/2006 03:06:46 PM Produced by the JSE SENS Department
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