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Pinnacle -- results of general meeting
Shareholders are referred to the circular to Pinnacle shareholders dated Wednesday, 25 May 2011 relating to the repurchase by Pinnacle and Pinnacle Holdings Ltd, a subsidiary of Pinnacle, of 20 million shares from Amabubesi Technology Holdings (Pty) Ltd ("the transaction"). Shareholders were advised that at the general meeting of Pinnacle shareholders, both of the special resolutions and the ordinary resolution were approved by the requisite majority of shareholders to effect the transaction.
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Pinnacle anticipating higher earnings
Shareholders were advised that for the twelve months ending 30 June 2011 headline earnings per share are projected to be at least 106 cents per share, being at least 30% higher than the results of the comparative period (30 June 2010: 81.3 cents per share). Earnings per share is also projected to be at least 106 cents per share, (based on 181 976 409 shares) being at least 38% higher than the results of the comparative period (30 June 2010: 76.7 cents per share, based on 181 474 983 shares). The company's financial results for the twelve months ending 30 June 2011 are expected to be published on or about middle of September 2011.
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