Oakbay comments on the real reasons for finance minister’s court action: Ronica Ragavan, Acting CEO of Oakbay Investments (http://OakbayInvestments.co.za), comments on today’s events in Court: “The ulterior motives of the Finance Minister have been made very clear in Court today. He has used an irrelevant and fundamentally flawed list of transactions to further his warfare against Oakbay and its shareholders. Even worse, he has used both his office and the resources of the State … [Read more...] about Oakbay comments on the real reasons for finance minister’s court action
Oakbay
Oakbay responds for calls to withdraw from Gordhan application hearing
Oakbay responds for calls to withdraw from Gordhan application hearing: Ronica Ragavan, Acting CEO of Oakbay Investments (http://OakbayInvestments.co.za), responds to calls from Jeremy Gauntlett, the Finance Minister’s lawyer, for Oakbay to withdraw from the application hearing: “Oakbay Investments has suffered unjustified and severe reputational damage as a result of the Minister’s application. His inclusion of the FIC report and Deputy Minister Jonas’ affidavit, … [Read more...] about Oakbay responds for calls to withdraw from Gordhan application hearing
Oakbay Investments responds to Finance Minister Pravin Gordhan’s affidavit
Oakbay Investments responds to Finance Minister Pravin Gordhan’s affidavit: Oakbay Investments (http://OakbayInvestments.co.za) today responded to the affidavit filed by South Africa’s Finance Minister, Pravin Gordhan. A spokesperson for Oakbay Investments said: “Today's affidavit is a case of reverse victim syndrome. The applicant proactively came after us and smeared our name with a flawed list of transactions - that he used his unique executive power to obtain - and … [Read more...] about Oakbay Investments responds to Finance Minister Pravin Gordhan’s affidavit
Oakbay Investments calls on the High Court to dismiss Pravin Gordhan’s “bizarre” application
Oakbay Investments calls on the High Court to dismiss Pravin Gordhan’s “bizarre” application: Van der Merwe & Associates, lawyers for Oakbay Investments (www.OakbayInvestments.co.za), submitted an affidavit to the High Court in Pretoria in response to the application by Pravin Gordhan, the Minister of Finance. Highlights of the Oakbay Investments affidavit: The Minister’s superfluous application is riddled with factual and legal errors. The Minister’s reliance on the list … [Read more...] about Oakbay Investments calls on the High Court to dismiss Pravin Gordhan’s “bizarre” application
Oakbay lawyer gives video interview on explosive affidavit
Oakbay lawyer gives video interview on explosive affidavit: Gert van Der Merwe, the lawyer for Oakbay Investments (http://OakbayInvestments.co.za), has given a detailed interview on today’s affidavit in response to the application by Pravin Gordhan, the Finance Minister. The full interview can be viewed here: http://apo.af/6PwmYr. Van Der Merwe has described the Minister’s application as “superfluous” and “riddled with factual and legal errors”. This … [Read more...] about Oakbay lawyer gives video interview on explosive affidavit
Oakbay Investments Sets the Record Straight on Optimum Coal Transaction
Oakbay Investments Sets the Record Straight on Optimum Coal Transaction: Yesterday, Oakbay (www.OakbayInvestments.co.za) received questions from media who speculated that the Business Rescue Practitioners for Optimum Coal Mine (“OCM”) may have alleged that a pre-payment made by Eskom was inappropriately used to fund part of the consideration for the acquisition of the shares of the seven target companies which at the time belonged to Optimum Coal Holdings (“OCH”). This … [Read more...] about Oakbay Investments Sets the Record Straight on Optimum Coal Transaction
Ajay Gupta and Oakbay Investments Delighted with Affidavit from Pravin Gordhan
Ajay Gupta and Oakbay Investments Delighted with Affidavit from Pravin Gordhan: Gupta Family lawyer, Van Der Merwe Associates, releases a statement on behalf of Mr. Ajay Gupta and Oakbay Investments (www.OakbayInvestments.co.za) in response to the affidavit from Pravin Gordhan. Highlights include: The Gupta Family (as majority shareholders) and Oakbay Investments are delighted to have been cited as respondents to the application from the Finance Minister. At last, the Gupta Family and … [Read more...] about Ajay Gupta and Oakbay Investments Delighted with Affidavit from Pravin Gordhan
Oakbay Responds to Application by Minister of Finance
Oakbay Responds to Application by Minister of Finance: Yesterday afternoon, van Der Merwe Associates (“VDMA”) notified the Minister of Finance’s attorneys of their client’s (the Oakbay Group of companies) (www.OakbayInvestments.co.za) intention to oppose the application issued under case number 80978/16 on 14 October 2016 – unless the Minister of Finance withdraws the application and tenders costs by this afternoon – Wednesday 19 October. VDMA’s … [Read more...] about Oakbay Responds to Application by Minister of Finance
Oakbay Investments announces CEO resignation due to health issues
Oakbay Investments announces CEO resignation due to health issues: Oakbay Investments ("Oakbay") (www.OakbayInvestments.co.za) announces the resignation of its Chief Executive Officer, Nazeem Howa, with immediate effect. After a period of illness, Mr. Howa has stepped down from his duties at Oakbay due to health issues and medical advice. Ronica Ragavan, the current Financial Director of Oakbay, will assume the role of Acting Chief Executive Officer, whilst the Company searches for a … [Read more...] about Oakbay Investments announces CEO resignation due to health issues
Oakbay Investments Releases Maiden Annual Results: 8.9% of Revenue from Government Business in 2015/16
Oakbay Investments Releases Maiden Annual Results: 8.9% of Revenue from Government Business in 2015/16: Oakbay Investments ("Oakbay", "the Company" or "the Group") (www.OakbayInvestments.co.za), announces its annual, audited results for the year ended 29 February 2016. Growth in revenue driven by private sector contracts: Group Revenue increased by 7% to 2.62 billion Rand (2015: 2.44 billion Rand) Government contracts accounted for 8.9% of the Group’s revenue … [Read more...] about Oakbay Investments Releases Maiden Annual Results: 8.9% of Revenue from Government Business in 2015/16
Oakbay and Tegeta react to media speculation
Oakbay and Tegeta react to media speculation: Oakbay Investments (www.OakbayInvestments.co.za) and Tegeta have noted press coverage in recent days surrounding the Company’s contracts with Eskom and coal supply from the Brakfontein mine. We strongly believe we have done nothing wrong and have followed every policy and process correctly and have no issue with government or a regulatory body reviewing our activity. At the time of the Treasury’s request to release its report, Tegeta … [Read more...] about Oakbay and Tegeta react to media speculation
