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PNC
PNC
PNC - Pinnacle Technology Holdings Limited - Announcement
Pinnacle Technology Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/000334/06)
JSE Code: PNC ISIN: ZAE000022570
("Pinnacle" or "The Group")
ANNOUNCEMENT
Pinnacle is pleased to announce the acquisition of 100% of the issued share
capital and shareholders loans of Tri Continental Distribution S.A. (Pty) Ltd
("Tricon").
Tricon distributes internationally recognized IBM and Lenovo notebooks, personal
computers, printers and servers in South Africa. The acquisition of Tricon is
considered strategic as it grants the Group access to marketing channels, market
segments and product sets not available to it previously.
Although the transaction falls below the threshold of the categorization of
transactions which require disclosure in terms of the JSE Limited`s Listings
Requirements, the directors of Pinnacle have considered the strategic nature of
the acquisition and deem it appropriate to inform shareholders of the
transaction.
The transaction is subject to various conditions precedent, including the
approval of the Competition Commission, and should be completed by early next
year.
Midrand
7 December 2007
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
Date: 07/12/2007 14:25:41 Produced by the JSE SENS Department.
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