Bloomberg News

Pinnacle Point Needs 250 Million Rand, Considers Rights Offer

July 01, 2011

July 1 (Bloomberg) -- Pinnacle Point Group Ltd. said it needs about 250 million rand to replace banking facilities and to meet working capital requirements.

Amongst the initiatives the group is considering is a rights offer and a business rescue for “certain group companies,” Pinnacle Point said in a statement today.

Link to Statement:{NSN LNN25P3HBS3K <GO>}

To contact the editor responsible for this story: Alastair Reed at areed12@bloomberg.net


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