Listed technology group Ayo Technology Solutions is in trouble with the JSE once again – even as it prepares to go private.
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Iqbal Survé’s Sekunjalo intends buying out minority shareholders in the controversial Ayo Technology Solutions.
Controversy-plagued Ayo Technology Solutions has been suspended from trading on the JSE.
Sekunjalo has claimed it plans to sue President Cyril Ramaphosa and state organs for R75-billion.
The JSE has warned AEEI and Ayo Technology Solutions that they could have their shares suspended from trading.
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.
Ayo Technology Solutions has doubled its gross dividend to 60c/share but given no reason for this even as losses widened.
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.