Oakbay (www.OakbayInvestments.co.za) confirms that no monies have been removed from the Optimum Rehabilitation Fund.
The Rehabilitation Fund balance was moved from Optimum Mine Rehabilitation Trust’s account with Standard Bank to Bank of Baroda in June 2016. This transfer was due to Standard Bank’s closure of all company accounts. This is the only movement of money from this account. This movement was with the full permission of the joint Business Rescue Practitioners.
Any suggestions that the Rehabilitation Fund has been drawn down upon are absolutely untrue and defamatory.
Attached to this announcement is a certificate from Bank of Baroda (dated 5 October 2016) which confirms the balance of the Rehabilitation Fund (http://APO.af/tyMhK2).
This is yet another example of groundless innuendo circulated by some media which Oakbay has proven to be totally false.
Oakbay will release a separate announcement in response to Minister Gordhan’s affidavit tomorrow morning Tuesday 18 October 2016.
Source: Oakbay Investments Ltd.