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JSE mulls Oakbay suspension

The JSE said on Friday it had informed Oakbay Resources & Energy that it was considering the suspension of its listing over the company’s failure to appoint a sponsor to replace Sasfin Capital. Sasfin Capital gave notice in April that it would terminate its engagement as sponsor of the controversial Gupta family business as of June 1. It is a listing requirement that a new sponsor be appointed within 30 days of a sponsor’s termination. A statement from the JSE on Friday said the “grant period” for appointment of a new sponsor had expired on July 14.