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Pinnacle Point, South African firm list tomorrow on NSE



Proshare NI

March 16, 2009 at 17:42 GMT



Pinnacle Point Group, a South African firm would tomorrow Tuesday March 17 2009 list its shares by introduction on the Floor of the Nigerian Stock Exchange (NSE) in Lagos Nigeria.


The company which had earlier proposed to do a cross border listing is a fully fledged company listed on the Johannesburg Stock Exchange (JSE)


Prior to this time, Professor (Mrs.) Ndi Okereke-Onyiuke, Director General/Chief Executive Officer (DG/CEO) of the NSE had confirmed this on the Trading Floor of the NSE.


“The Board of Pinnacle Point Plc, a Company quoted on the Johannesburg Stock Exchange of South Africa, this fully fledged company will be listed here; just the same way it was listed and traded on the JSE, so we are very happy to receive them” she said.


Pinnacle Point would be listing 4,579,782,814 Ordinary Shares of Zaro-0001 (No. 0015) each at Zaro.50 (N7.50 Kobo) per share and would be listed on the Hotel and Tourism Sector of the NSE.


The company would have listed on Friday March 13 2009, but it did not; due to some delayed process with the Securities and Exchange Commission (SEC); which they have since normalised.


Capital Asset Limited and Goldman Assets Management Limited are the Stockbrokers and Financial Advisers respectively to the company.


Pinnacle Point is a Property development and Investment Group specialising in the creation of luxury lifestyle, retirement and residential estates.


It has also recently announced that it has signed agreements with Lagos State Government and Unibright Nigeria to develop and construction a multimillion dollar luxury golf estate in Lagos State Nigeria.  The Lagos key development will comprise luxury homes, a Golf Course, leisure and beach resort.

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