Shareholders of Pinnacle Holdings Limited are advised that Mr. Ashley (Oshy) Tugendhaft BA (Wits); LLB (Wits), who was acting as Chairman, has been appointed as Non-Executive Chairman effective 10 March 2015. Oshy is the senior partner of attorneys Tugendhaft, Wapnick Banchetti and Partners (TWB). He is an accomplished practitioner in commercial and corporate law, has more than 40 years' experience in practice and also serves as a NonExecutive Director and Deputy Chairman of Imperial Holdings Limited.

Shareholders are therefore advised that Mr. Bheki Sibiya (Bheki) has been appointed as Lead Independent Director with effect 10 March 2015. Mr. RN Nkuna, the Group's Head of HR, will continue to serve as a member of the Social and Ethics Committee as a Prescribed Officer.