OAKBAY RESOURCES AND ENERGY LIMITED - VOLUNTARY SUSPENSION OF LISTING

Release Date: 23/06/2017 16:42
Code(s): ORL
 
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VOLUNTARY SUSPENSION OF LISTING

Oakbay Resources and Energy Limited
(Incorporated in the Republic of South Africa)
Registration number: 2009/021537/06
Share code: ORL
ISIN: ZAE000196085
(“Oakbay Resources” or “the Company”)


VOLUNTARY SUSPENSION OF LISTING


Further to the announcement made on SENS on 22 June 2017, shareholders are
advised that the JSE has granted a request made by Oakbay Resources for a
voluntary suspension of the listing of its securities, on a temporary basis; which will
take place with immediate effect.

As previously communicated to shareholders, the recent resignations of the
Company’s Sponsor, Transfer 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. As a direct consequence of
these circumstances, the Board believes that it would be in the best interests of the
Company and its Shareholders that the listing of its securities on the JSE is temporarily
suspended.

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.



Johannesburg
23 June 2017

River Group
Sponsors and Corporate Advisors

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