The JSE has warned AEEI and Ayo Technology Solutions that they could have their shares suspended from trading.
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Ayo Technology Solutions may no longer be a “going concern”, based on its 2023 results, its auditors have warned.
Ayo Technology Solutions has severely criticised the JSE after the bourse on Thursday publicly censured the company.
The JSE has fined Ayo Technology Solutions and publicly censured the company over further breaches of the listings requirements.
The R4.3-billion in pension fund money that the PIC controversially pumped into the Iqbal Survé-linked Ayo Technology Solutions is proving to be a terrible investment.
Nedbank will on 15 March withdraw banking services provided to AEEI, the investment company controlled by controversial businessman Iqbal Survé.
The JSE has censured two former directors of Ayo Technology Solutions, publicly berating them and banning them from serving as directors for five years.
Last week’s announcement by Sekunjalo’s African Equity Empowerment Investments that BT Group was not entitled to claim back the 30% stake in BT South Africa held by AEEI was a little puzzling.
The high court has ruled that Ayo Technology Solutions’ bid to overturn First National Bank’s decision last month to close the JSE-listed technology group’s banking facilities will not be heard on an urgent basis.
First National Bank has terminated the banking facilities it provides to Iqbal Survé’s Ayo Technology Solutions, Ayo said in a statement to shareholders after markets closed in Johannesburg on Thursday.