Volantary delisting of securities
Oakbay Resources and Energy Limited
(Incorporated in the Republic of South Africa)
Registration number: 2009/021537/06
Share code: ORL
("Oakbay Resources" or "the Company")
VOLUNTARY DELISTING OF SECURITIES
Shareholders are referred to the SENS announcements made by the Company on
12 May 2017, 2 June 2017, 13 June 2017; whereby shareholders were informed of
the resignations of an Independent Non-Executive Director (who was also the Audit
Committee Chairman), its Sponsor and its Transfer secretaries.
Shareholders are further referred to the SENS announcements made by the
Company on 22 June 2017 and 23 June 2017; whereby shareholders were informed
of the material uncertainty surrounding the Company's future ability to meet its
obligations in terms of the JSE Listings Requirements as a result of these
resignations, as well as a subsequent decision made by the JSE to grant the
Company's request for a voluntary suspension of the listing of its securities under the
Subsequent to these announcements, the Company has approached several JSE
accredited Sponsors and Transfer Secretaries, but has been unsuccessful in its
efforts to fill the aforementioned vacancies. Accordingly, Oakbay Resources is of the
view that it is unlikely that it will be able to fill the vacant positions; which are
mandatory in terms of the JSE Listings Requirements and the Companies Act (No.
71 of 2008), on a timely basis.
Shareholders are advised that the JSE has, on 10 July 2017, granted a request
made by Oakbay Resources for the voluntary delisting of its securities pursuant to
Section 12(5)(a) of the Financial Markets Act 19, of 2012. This decision by the JSE
follows a careful consideration by them of all relevant facts and information at their
disposal, and is based on the Company's inability to comply with the peremptory and
material provisions of the JSE Listings Requirements, coupled with the fact that
Oakbay Resources has indicated to the JSE that it is unable to continue to comply
with these requirements, as a result of the circumstances set out above.
Salient dates and times in respect of the Delisting
Shareholders are advised of the following important dates in relation to the delisting
of the Company's securities:
Last Day to Trade ("LDT") Tuesday 18
Record Date Friday 21
Termination date of listing of Oakbay
shares on the main board of the JSE at
the commencement of trade on Monday 24
1. All of the dates and times set out in this announcement are subject to change, with the approval
of the JSE, if required. Any change in the dates and times will be published on SENS and in the South
2. All times given in this announcement are local times in South Africa.
3. No dematerialisation or rematerialisation of Oakbay Shares may take place after the LDT
11 July 2017
Sponsors and Corporate Advisors
Date: 11/07/2017 04:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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