October 15, 2015 / 12:30 PM / 2 years ago

BRIEF-Pinnacle Holdings says to make buyout offer for Datacentrix

Oct 15 (Reuters) - Pinnacle Holdings Ltd :

* Has acquired 20 mln Datacentrix ordinary shares from RMB Securities Proprietary Ltd in an off-market sale and purchase

* Deal was settled by Pinnacle through issuance of 7.7 mln new Pinnacle shares to seller

* Acquired shares represent about 10 pct of issued ordinary share capital of Datacentrix

* Acquisition has resulted in Pinnacle increasing its shareholding to about 45 pct of voting securities, prior to offer to minority shareholders of Datacentrix

* Datacentrix minority shareholders will receive 1 Pinnacle share for every 2.6 Datacentrix shares held under mandatory offer

* Equates to consideration of R4.90 per Datacentrix share held by applying pinnacle's 30 day VWAP of R12.74 as at close of business on Oct. 13 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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