Panel Receives Application from Vanteck (VRB) Technology Corp in Relation to Pinnacle VRB Ltd

The Panel advises that it has received an application by Vanteck (VRB) Technology Corp in relation to its bid for Pinnacle VRB Limited.

Vanteck has applied for declaration of unacceptable circumstances in relation to the conduct of one of the directors of Pinnacle, Mr David Pethard. Vanteck alleges that the letters sent by Mr Pethard to shareholders of Pinnacle on 17 September 2001 concerning Vanteck's bid for Pinnacle and the upcoming general meeting of Pinnacle's shareholders scheduled for Monday, 1 October give rise to unacceptable circumstances.