Shareholders open to sale: Pinnacle

Some of Pinnacle Life’s shareholders are open to the possibility of the full sale of their shares during its capital raising process, one of the company’s partners says.

Tuesday, March 26th 2013, 12:02PM 1 Comment

by Susan Edmunds

There have been rumours that Pinnacle is on the verge of a sell-off.

The company received a financial strength rating of B last year and is undertaking a capital raising to expand its operations and improve its rating.

Pinnacle Life partner Ed Saul confirmed the firm was still in the process of a capital raising.

“The objective is to raise capital for further expansion and growth. The objective is not to sell Pinnacle Life. However, in issuing new capital, some existing Pinnacle shareholders (particularly some that have been with the company since inception in 1998) are open to the possibility of a partial or even full sale of their shares, depending on the requirements of the investor.”

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Comments from our readers

On 5 April 2013 at 6:15 pm 6ftndr said:

haha, not surprising some shareholders want out.

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Shareholders open to sale: Pinnacle

Some of Pinnacle Life’s shareholders are open to the possibility of the full sale of their shares during its capital raising process, one of the company’s partners says.

Tuesday, March 26th 2013, 12:02PM 1 Comment

Comments from our readers

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