The River Group terminated their role as management advisors to Oakbay Resources and declared the reason as an “association risk.”
The Oakbay Group has 30 days to find a new sponsor to handle their business at the Johannesburg Stock Exchange. If they fail, Oakbay’s listing at the JEB can be suspended.
Other businesses that they have already distanced themselves from Oakbay include KPMG, Sasfin Bank as well as the four top banks Standard, Barclays Africa, Nedbank, and FirstRand.
Read the original article in Afrikaans on Die Vryburger
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