Despite the best efforts of Oceana management and its public relations team to smooth over shareholder and market concerns, it is very rare that there is no fire where there’s smoke. And the smoke signals continue unabated.
Two weeks ago, CEO Imraan Soomra resigned “for personal reasons”. The company admitted that he was in the process of being investigated by the board when he resigned, but did not want to tellwhether he had been paid in lieu of the six-month notice period in line with his employment contract. “Further, she has expressly not been part of the Oceana board and management team that has engaged the JSE on anything pertaining to the current challenges the company is facing, the most pressing of which is the publication of its results.”
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