Johannesburg - Property development group Pinnacle Point
Group [JSE:PNG] said on Wednesday that its directors have applied to the JSE
for suspension of its securities with immediate effect following the notice of
motion received by the company on Monday.
The group advised that provisional liquidation was granted
on Tuesday, September 27.
"The company, certain creditors and shareholders are of
the opinion that business rescue continues to be in the best interests of
creditors and shareholders and will be considering a further application for
business rescue.
"Shareholders will be kept appraised of developments in
due course," it said in a statement.