Johannesburg - An executive director of South Africa's Pinnacle Holdings has been charged with attempting to bribe a senior police official with 5 million rand, the technology company said on Tuesday.

Takalani Tshivhase allegedly tried to bribe a Lieutenant General of the South African Police Service in January 2013, the company said in a statement.

Tshivhase has denied the allegations and will defend the charges, Pinnacle said, adding that there was “no reason to doubt the veracity” of his denial from the evidence available to the company.

Shares of Pinnacle were down 8.5 percent at 18.31 rand at 10:55 SA time. - Reuters