Guptas' Oakbay delists from JSE

According to the company the suspension is only a temporary arrangement. 

"As previously communicated to shareholders, the recent resignations of the company's sponsor, Tansfer Secretary and an Independent Non-Executive Director (who was also the Chairman of the Company's Audit Committee) has created significant uncertainty around the ability of Oakbay Resources to continue to meet its future obligations in terms of the listings requirements," the company said in a statement. 

The company, which has been threatened with delisting by the JSE in the past, says the delisting is in the best interests of the company and its shareholders.

"The Board of Directors remains in the process of evaluating several alternatives available to the company and the shareholders would be informed in due course as to any developments in this regard."