Pinnacle director charged with corruption- Investors dump Pinnacle stock

[Joe_M]

I am surprised that no one is commenting on the Pinnacle issue today, at the bank where I work it was big news today
link

 

[Dolby]

I just bought stock in the JSE game ... let's see what happens

 

[BloodBurner9000]

Check the sens - that same director sold R4m of his shares yesterday. That in my opinion should have him locked up for good.

 

[MickeyD]

You mean this article? http://mybroadband.co.za/news/general/99278-tech-businessman-arrested-on-corruption-charges.html

 

[Dolby]

Why did shares plummet today if he was arrested on the 5th?

 

[Fulcrum29]

Pinnacle did provide their contacts with a notice in regard with this case, this was released today.

 

[Dolby]

I just bought stock in the JSE game ... let's see what happens

Ok.

That hasn't worked out well

 

[Dolby]

What 3 year tax thingy ?

And do Pinnacle pay dividends/interest anything in the year? I have other shares and I get a payout every May/Nov

 

[DJ...]

What 3 year tax thingy ?

Traders and investors are treated differently by the taxman. The 3 year holding period defines it. If you hold a stock or other tradeable asset for 3 years or more, the proceeds of the sale are deemed by SARS as capital and only a portion is taxable...

EDIT: here's a decent read - http://www.sanlam.co.za/wps/wcm/con...erstanding+the+tax+implications+of+investment

 

[Dolby]

Thanks DJ!

 

[Taranis]

I've never liked or trusted Pinnacle. Their warranty replacements look reconditioned and their attitude always seemed to shout arrogance like we needed them more than they needed us.