EOH Holdings said on Wednesday that it was cleared of involvement over allegations of misconduct at Eskom.

The listed technology services group’s shares price plummeted by as much as 15.7% on Tuesday after Eskom published allegations that its former chief procurement officer, Jay Pillay, and “other senior officials” in the procurement team were involved in acts of misconduct involving EOH.

In Eskom’s statement, published late on Monday, it also said a member of the board and audit and risk committee, George Sebulela, did not declare a conflict of interest and did not recuse himself on deliberations involving EOH, which was a supplier to the state-owned energy utility.

The Eskom statement contained a long list of “reportable irregularities” related to its interim financial results for the six months ended 30 September 2018. The Pillay/EOH and Sebulela/EOH allegations were among them.

In its statement on Wednesday, EOH said: “The two allegations mentioned in the announcement are matters that have been fully investigated and the matters concluded last year. EOH was found not to be implicated in either allegation.”

It said it is now engaged with the JSE and Eskom on the latter’s disclosure to the stock exchange news service.