Johannesburg exchange probes disclosure of Pinnacle director arrest

JOHANNESBURG, March 25 Tue Mar 25, 2014 10:21am EDT

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JOHANNESBURG, March 25 (Reuters) - The Johannesburg Stock Exchange is investigating whether IT firm Pinnacle Holdings met regulations on timely disclosure when it announced the arrest of a director three weeks after the event, an official said on Tuesday.

"We are investigating the issue and will be posing some questions to the company," John Burke, the exchange's director of issuer regulation, told Reuters.

Earlier on Tuesday, Pinnacle said police had arrested Executive Director Takalani Tshivhase on March 5 for allegedly attempting to bribe a senior police official to win a government contract. Tshivhase has denied the charges. (Reporting by David Dolan; Editing by Ed Stoddard)

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