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PNC
PNC
PNC - Pinnacle Technology Holdings Limited - Changes to the Board of Directors
Pinnacle Technology Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 1986/000334/06
Share Code: PNC ISIN: ZAE000022570
("Pinnacle")
Changes to the Board of Directors
In terms of rule 3.59 of the JSE Listings Requirements, shareholders are advised
that Mr Mthandazo Peter Moyo has resigned his membership of the Board of
Directors of Pinnacle (the "Board") as a non-executive director and as a member
of Audit and Risk Committee of the Board with effect from today, 9 February
2012.
Mr Moyo was appointed to the Board on 30 May 2006 as a representative of
Amabubesi Technology Holdings (Pty) Ltd ("Amabubesi") in accordance with the
provisions of the Subscription Agreement under which Amabubesi acquired 37 281
647 shares in Pinnacle at that time.
Apart from Mr Moyo`s executive role as Chief Executive Officer of the Amabubesi
Group he is also Chairman of the Vodacom Group, Chairman of the Audit Committee
of the Auditor General`s office, a non-executive Director of both the Liberty
and Transnet Groups and a Member of the Advisory Board of the Stellenbosch
Business School. Mr Moyo believes that having already served on the Board for
almost 6 years and given that Amabubesi`s investment in Pinnacle shares has been
fully repurchased by Pinnacle, it is time now for him to step down from the
Board to allow him to concentrate on his numerous other responsibilities. The
Board would like to extend its sincere gratitude and appreciation to Mr Moyo for
his commitment and his valuable contribution to Pinnacle over the past 6 years.
Mr Moyo will be missed by his colleagues at Pinnacle and we wish him every
success in the future.
Shareholders will be advised of the appointment of a new independent non-
executive director in Mr Moyo`s stead once the appointment has been finalised.
Midrand
Thursday, 9 February 2012
Sponsor
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 09/02/2012 17:01:01 Produced by the JSE SENS Department.
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