By InvestAdvocate

Lagos (INVESTADVOCATE) – South African Firm, Pinnacle Point Group has issued a renewal Cautionary Notice to its shareholders in preparation to delisting from the Nigerian Stock Exchange (NSE).

The notice by the Company to the Nigeria’s Exchange dated January 04 2012 and obtained by www.investadvocateng.com reads thus: “ Pinnacle Point Group Limited has notified The Exchange that further to the SENs’ announcements dated September 26, 2011, October 6, 2011, October 11, 2011 and November 15, 2011, shareholders of the company are advised to exercise caution when dealing in the company’s securities; until a full announcement in regard to the final liquidation and potential delisting of the company is made”

This is coming on the heels of a winding up notice dated October 10 2011 from the Firm to the NSE.

The winding up notice reads thus: “The Nigerian Stock Exchange has received a Notice of Winding-Up Order instituted at High Court of South Africa (Western Cape High Court, Cape Town). Having heard Counsel for the Business Rescue Practitioner, the Applicant and the Intervening Party, the Court has ordered by agreement that a rule nisi be issued calling upon any interested party to appear and to show cause, if any, to the Honourable Court on Friday, 4th November, 2011 at 10.00 a.m. or as soon thereafter as counsel may heard as to: Why the Company should not be placed under final liquidation”

Prior to this time and as earlier reported by www.investadvocateng.com, in late September 2011, Pinnacle Point Group notified the Nigeria’s Exchange that its Directors have applied to the NSE for suspension of its Securities with immediate effect following the notice of motion received by the company on Monday, 26 September 2011 as announced on SENS.

Following this, Shareholders were advised that provisional liquidation was granted the Company on Tuesday, 27 September 2011.

Pinnacle Point Group only listed March 17 2009 by introduction on the Floor of the Nigeria’s Exchange.

The Firm listed 4,579,782,814 Ordinary Shares of Zaro-0001 (No. 0015) each at Zaro.50 (N7.50 Kobo) per share and was listed on the Hotel and Tourism Sector of the NSE.