Pinnacle : RESULTS OF PINNACLE ANNUAL GENERAL MEETING (“AGM” or “PINNACLE AGM”)

Pinnacle Holdings Limited

Registration number 1986/000334/06

Share Code: PNC

ISIN: ZAE000184149

('the Company' or 'Pinnacle' or 'the Group')

RESULTS OF PINNACLE ANNUAL GENERAL MEETING ('AGM' or 'PINNACLE AGM')

Shareholders are advised that all the ordinary and special resolutions, including the resolutions relating to the Specific Repurchase Tranche 1 and the Name Change, details of which were included in the announcement published by the Company on 30 September 2016, tabled at the AGM of Pinnacle held on Friday, 25 November 2016 were passed by the requisite majority of shareholders, with the exception of special resolution 2 and ordinary resolutions 6 and 7 which failed.

In this regard and in accordance with paragraph 3.91 of the JSE Limited ('JSE') Listings Requirements, the detailed voting results of the Pinnacle AGM are set out below:

- Total number of Pinnacle shares that could have been voted at the AGM: 166 732 571

- Total number of Pinnacle shares that were present/represented at the AGM: 92 948 219 being 56% of the total number of Pinnacle shares that could have been voted at the AGM

RESOLUTIONS	SHARES VOTED EXCLUDING ABSTENTIONS	NUMBER OF VOTES (ONE PER SHARE)		ABSTAINED AS A PERCENTAGE OF VOTABLE SHARES
		IN FAVOUR OF	AGAINST
Special resolutions
1. Issue of a general authority for the Company to repurchase its own shares	92 783 822	92 737 786	46 036	164 397
Percentage		99.95%	0.05%	0.10%
2. Issue of a general authority to provide financial assistance in terms of section 44 of the Companies Act	92 823 588	44 283 683	48 539 905	124 631
Percentage		47.71%	52.29%	0.08%
3.Issue of a general authority to provide financial assistance to any of its subsidiaries	92 832 178	92 831 680	498	116 041
Percentage		100.00%	0.00%	0.07%
4. Issue of a specific authority to repurchase ordinary shares from Pinnacle Treasury Services (Pty) Ltd	92 831 640	92 815 040	16 600	116 579
Percentage		99.98%	0.02%	0.07%
5. Approval to change the Company's name from Pinnacle Holdings Limited to Alviva Holdings Limited	92 832 138	92 816 898	15 240	116 081
Percentage		99.98%	0.02%	0.07%
6. Approval of the fee structure to be paid to non-executive directors	92 824 808	92 817 808	7 000	123 411
Percentage		99.99%	0.01%	0.07%
7. Adoption of a new share plan	92 825 508	91 636 911	1 188 597	122 711
Percentage		98.72%	1.28%	0.07%
Ordinary resolutions
1. Re-appointment of retiringdirectors
1.1 Re-appointment of Mr A Tugendhaft as a non-executive director	92 829 080	74 140 953	18 688 127	119 139
Percentage		79.87%	20.13%	0.07%
1.2 Re-appointment of Ms N Medupe as an independent non-executive director	92 829 080	92 829 080	-	119 139
Percentage		100.00%	0.00%	0.07%
2. Appointment of the Audit and Risk Committee members
2.1 Ms N Medupe - Chairperson	92 829 080	92 828 680	400	119 139
Percentage		100.00%	0.00%	0.07%
2.2 Ms SH Chaba - Member	92 829 080	92 828 680	400	119 139
Percentage		100.00%	0.00%	0.07%
2.3 Mr B Sibiya - Member	92 829 080	92 826 680	2 400	119 139
Percentage		100.00%	0.00%	0.07%
3. Approval to re- appoint Sizwe Ntsaluba Gobodo Incorporated and Mr A Philippou as auditors	92 829 780	92 829 780	-	118 439
Percentage		100.00%	0.00%	0.07%
4. Endorsement of the Company's Remuneration Policy and its implementation	92 823 608	91 441 347	1 382 261	124 611
Percentage		98.51%	1.49%	0.07%
5. Authorisation of the directors to implement the special and ordinary resolutions	92 830 480	92 801 542	28 938	117 739
Percentage		99.97%	0.03%	0.07%
6. General authorisation to place unissued shares under the control of the directors	92 830 040	38 558 337	54 271 703	118 179
Percentage		41.54%	58.46%	0.07%
7. General authorisation to issue shares for cash	92 825 568	42 699 217	50 126 351	122 651
Percentage		46.00%	54.00%	0.07%

The special resolutions, including thechange of Company's name to Alviva Holdings Limited will be submitted to the Companies and Intellectual Property Commission ('CIPC') in due course for filing or registration where applicable.The finalisation date announcement, including the final salient dates and times, in respect of the change of name of the Company will be published once proof of registration of the relevant special resolution has been obtained from CIPC.

IMPLEMENTATION OF THE SPECIFIC REPURCHASE TRANCHE 1

Pursuant to the approval of the Specific Repurchase Tranche 1 at the Pinnacle AGM, the board of directors of Pinnacle will now proceed with the implementation of same on Wednesday, 30 November 2016, following which an application will be submitted to the JSE to de-list the treasury shares repurchased in terms of the Specific Repurchase Tranche 1 on or about Friday, 02 December 2016.

Midrand

25 November 2016

SPONSOR:

Deloitte & Touche Sponsor Services (Pty) Ltd

CORPORATE AND TRANSACTION ADVISOR:

Pallidus Capital Proprietary Limited