The JSE has notified Oakbay Resources that it is considering suspending trading in the company’s shares following a recent spate of critical resignations. In a Sens announcement on Thursday, Oakbay said it was considering various alternatives and advised shareholders to exercise caution when dealing in the company’s shares. In the past four weeks, Oakbay’s sponsor and transfer secretary have tendered their resignations. In addition, on May 12 independent nonexecutive director Mark Pamensky said he was retiring with effect from June 10. He was the chairman of Oakbay’s audit committee and a member of the company’s risk, nomination, remuneration and social and ethics committees. At the time, Oakbay said it had begun the process of appointing a replacement for Pamensky. On June 5, the company announced that its sponsor, River Group, had given notice that it would terminate its service after July 31. “The reason for River Group’s termination of their services is due to their revised asse...
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