The Gupta family’s mining concern, Oakbay Resources & Energy, may be forced to delist or face suspension, after its JSE sponsor, River Group, said it would terminate its services. “The political situation around the company is untenable and goes against our principles,” said River Group CEO Andrew Lianos on Monday. Leaked e-mails showing the extent to which the Gupta family has influenced the government and state-owned companies has heaped pressure on President Jacob Zuma and the ANC. River Group was appointed Oakbay’s JSE sponsor in September after Sasfin Capital dumped the group on June 1, citing a strategic shift in its corporate finance division. Oakbay overshot the deadline to find another sp On Friday, Oakbay reported a loss of R936.5m for the year to February. Cash reserved had dwindled by R220m to R2.7m. Oakbay’s auditors SizweNtsalubaGobodo issued an unmodified audit opinion on the results. It was busy with the audit of other Oakbay group companies, said CEO Victor Sekese. ...
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