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Pinnacle financial assistance announcement
The resolution passed by the board of directors of Pinnacle on 22 November 2103 is as follows: Resolved that, to the extent required by the Companies Act, the board of directors of the Company may, subject to compliance with the requirements of the Company’s Memorandum of Incorporation, the Companies Act, and the Listings Requirements of the JSE, each as presently constituted and as amended from time to time, authorize the Company to provide any additional direct or indirect financial assistance by way of loan, guarantee, the provision of security or otherwise, to any of its present or future subsidiaries and/or any other Company or corporation that is or becomes related or inter-related to the Company, for any purpose or in connection with any matter, including, but not limited to, the subscription of any option, or any securities issued or to be issued by the Company or a related or interrelated Company, or for the purchase of any securities of the Company or a related or inter-related Company limited to the maximum of R500 Million effective to the date of the next AGM , but as determined by the Chief Financial Officer of the Company from time to time regarding actual payments.
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