Construction firms Basil Read and Esor, which have both entered into business rescue, on Friday asked the JSE to suspend trading in their shares.
Basil Read requested the suspension until the effect of the business rescue on the listed business can be quantified, which it said is only likely once the business rescue plan has been made available. This is expected to occur on August 20.
Esor, meanwhile, advised its shareholders that it believed the suspension in its shares was necessary and in the best interest of its shareholders.
The firm continues to work with its business rescue practitioners to try to achieve a successful outcome.