https://www.polity.org.za
Deepening Democracy through Access to Information
Home / News / South African News RSS ← Back
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Sponsored by

Close

Article Enquiry

Oakbay faces possible JSE suspension

Close

Embed Video

Oakbay faces possible JSE suspension

22nd June 2017

By: Megan van Wyngaardt
Creamer Media Contributing Editor Online

ARTICLE ENQUIRY      SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

JOHANNESBURG (miningweekly.com) – Gupta-owned investment holding company Oakbay Resources and Energy is facing a possible suspension in the trading of its shares on the JSE, owing to the resignation of an independent nonexecutive director and audit committee chairperson, as well as the resignation of its sponsor and transfer secretary.

The JSE requires a company to have a sponsor and a transfer secretary.

Advertisement

Oakbay also noted that the resignations had compromised the composition of various board committees.

It added that the lack of an audit committee chairperson could further lead to the company not having a functioning audit committee in future, if a replacement is not appointed in due course.

Advertisement

Oakbay was, therefore, considering various alternatives available to it.

EMAIL THIS ARTICLE      SAVE THIS ARTICLE ARTICLE ENQUIRY

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now