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Pinnacle -- update on acquisition
Shareholders are referred to a detailed terms announcement dated 20 July 2010 where they were advised that Pinnacle has entered into an agreement to acquire 100% of the issued equity of Axiz. Shareholders are hereby advised that the company has received Competition Commission approval. The remaining conditions precedent are expected to be fulfilled within the next two weeks.
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Pinnacle -- AGM results and dividend confirmation
The annual general meeting of Pinnacle shareholders was held on Friday, 29 October 2010. All the special and ordinary resolutions as set out in the notice of annual general meeting to shareholders, dated 15 September 2010, were approved by the requisite majority of shareholders. The special resolution will be submitted for registration at the Companies and Intellectual Property Registration Office in due course.
Shareholders are therefore advised that a cash dividend of 16 cents per share has been ratified and the salient dates are as follows:
- Last day to trade "CUM" dividend Friday, 12 November 2010
- Ordinary shares trade "EX" dividend Monday, 15 November 2010.
- Record date to be recorded in the register to participate in the dividend distribution Friday, 19 November 2010.
- Payment to shareholders in respect of the dividend distribution Monday, 22 November 2010.
- No share certificates may be dematerialised or rematerialised between Monday, 15 November 2010 and Friday, 19 November 2010, both days inclusive.
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