Pinnacle shareholders approve waiver of offer

Posted On Monday, 05 October 2009 02:00 Published by
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Shareholders of Pinnacle Point have approved the waiver of an offer to minorities by ABSA Bank Limited in the event that ABSA's shareholding increases above 35%.

Shareholders of Pinnacle Point (PNG) have approved the waiver of an offer to minorities by ABSA Bank Limited in the event that ABSA's shareholding increases above 35% as a result of ABSA underwriting an intended rights offer to minorities.

Pinnacle also announced that the dates of the proposed rights offer would change as the company is still in the process of finalising underlying agreements and the related rights offer circular. New salient dates will be given in due course, it said.

Source: I-Net Bridge


Publisher: I-Net Bridge
Source: I-Net Bridge

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