Gupta’s Oak­bay with­draws from JSE

Weekend Argus (Saturday Edition) - - FRONT PAGE -

GUPTA-owned Oak­bay Re­sources has been sus­pended, at its re­quest, from trad­ing on the Jo­han­nes­burg Stock Ex­change (JSE).

The JSE granted the vol­un­tary sus­pen­sion of list­ing the com­pany’s se­cu­ri­ties on a tem­po­rary ba­sis with im­me­di­ate ef­fect.

Oak­bay has had ac­counts closed by sev­eral of the coun­try’s big banks. Ex­ter­nal au­di­tors KPMG also jumped ship as well as spon­sor Sas­fin, lead­ing to con­cern within the com­pany that it wouldn’t be able to meet its obli­ga­tions in terms of the list­ing re­quire­ments. – Weekend Ar­gus Re­porter

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