The exodus of support services essential for a listed company continued for Gupta-owned Oakbay Resources and Energy, compounding problems for the cash-strapped miner. Less than two weeks ago, Oakbay, 79.99% owned by Oakbay Investments, a Gupta family company, told the market its JSE sponsor River Group had terminated its services. The Gupta family’s controversial involvement in high-level dealings with politicians and key figures at state-owned enterprises is laid bare daily in media stories. Oakbay Resources said on Tuesday its transfer secretary Terbium Financial Services had given notice of termination after an "internal review and consultation within their management". The relationship would be terminated no earlier than July31 and Oakbay has started the search for a new transfer secretary. A transfer secretary is a company that keeps the register of shareholders and makes sure the tally of shares in issue accords with that register and manages dividend payments. The company rep...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.