• Ian Macoun sells 3.932 million PNI shares (1.73% of total)
• Macoun will retain 14.343 million PNI shares (6.3% of total)
• Macoun committed to remaining a Pinnacle shareholder for at least 3 months

Pinnacle Investment Management Group Ltd (ASX: PNI) has announced that Ian Macoun, the company's founding Managing Director, has sold a total of 3,932,092 PNI shares (approximately 1.73% of the total issued capital of Pinnacle). On completion of this transaction, Mr Macoun or entities associated with him will continue to hold (and have voting control over) 14,343,985 Pinnacle shares (approximately 6.3% of the issued capital of Pinnacle). Mr Macoun has confirmed to the Pinnacle board of directors that, for a period of at least 3 months, no further Pinnacle shares held by him or entities associated with him will be disposed. Commenting on the sale, Mr Macoun said he remains fully committed to Pinnacle as Managing Director and a shareholder, and that entities associated with him will remain Pinnacle shareholders, retaining a significant number of shares, for many years to come. He also stated that he intends to invest all or most of the proceeds (after tax) in funds managed by Metrics which provide an attractive yield. In relation to the sale, Chair Alan Watson said that the Board and Ian have regular discussions concerning his succession, and that his retirement is not imminent, and that both the Board and Ian continue to approach the subject in a deliberately flexible manner.