Headline earnings per share (Heps) at technology group Pinnacle Holdings have slumped by 19% in the year ended 30 June 2014, despite an 8% increase in revenue to R7,1bn. As a result, Pinnacle has decided not to pay shareholders a dividend. Net profit for the year was R273,1m, down from
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Charges of attempted bribery instituted against Pinnacle Holdings director Takalani Tshivhase have been dropped by the specialised commercial crimes unit of the national directorate of public prosecutions. The news has sent Pinnacle’s share price surging by more than 35%. Tshivhase, who was
Technology group Pinnacle Holdings has moved to reassure its investors following a sharp decline in its share price in recent days. Since the company published a trading update on 8 August, in which it warned that its headline earnings per share for the year to end-June could have
JSE-listed technology company Pinnacle Holdings has warned that its headline earnings per share for the year to end-June are likely to have fallen by as much as 22% compared to the previous year. Earnings per share are likely to have declined by between 13% and 20%, the company said in a statement to its shadeholders
Former Pinnacle Holdings director Takalani Tshivhase, who is fighting charges that he bribed a senior police official to secure a multimillion-rand contract for the JSE-listed technology company, has had his court case postponed for a second time. Tshivhase appeared in the Pretoria specialised commercial
Henry Ferreira
Henry Ferreira
Listed technology distributor Pinnacle Holdings has named IT industry veteran Henry Ferreira as an executive director on its board. Ferreira, 61, has been appointed to “enhance the capacity of the board and also assist in managing the future growth of Pinnacle”, the company said in a statement to shareholders on Monday. He will take
Pinnacle Holdings has confirmed weekend newspaper reports that it is being investigated by the Financial Services Board (FSB) because of a possible contravention of the Financial Markets Act related to share trading that took place in March 2014. The FSB is probing possible insider trading, Pinnacle said in a statement to
Nearly R1,5bn — that is what was wiped off the market capitalisation of technology group Pinnacle Holdings in just two trading sessions this week after news emerged that one of its directors and biggest shareholders, Takalani Tshivhase, had been arrested on
Pinnacle Holdings CEO Arnold Fourie has taken advantage of a recent slump in the technology group’s share price, which followed the arrest of executive director Takalani Tshivhase for alleged corruption, by snapping up more than R13m worth of shares. On Friday, Pinnacle revealed to shareholders that the Arnold Fourie Family Trust
Takalani Tshivhase will take a leave of absence as an executive director of Pinnacle Holdings following the news this week that he had been arrested for allegedly trying to bribe a top police official to secure a tender. “In the light of the bringing of the charge, Tshivhase has