EOH Holdings has “proactively initiated” an internal investigation into subsidiary EOH Mthombo’s channel partner business unit after Microsoft served a notice of termination on two agreements with the company last Friday.
EOH Holdings on Friday published an open letter to its stakeholders after its shares were pummelled this week following the news that Microsoft had terminated two partner agreements with its subsidiary, EOH Mthombo. Read the full letter here.
EOH updated shareholders on Wednesday after Microsoft pulled the plug on two partnership agreements, but has still not explained the software giant’s reasons for doing so.
Shares in EOH Holdings plunged by as much as 34.3% in Johannesburg on Tuesday morning after news emerged late on Monday that Microsoft had terminated two partner agreements with the JSE-listed technology services group.
Listed technology services group EOH Holdings issued a statement to shareholders at 1.41pm on Tuesday, providing an update on the termination by Microsoft of its channel partner agreement.
EOH Holdings has said the potential loss of partner agreements with Microsoft South Africa within the next 30 days won’t have a material impact.
Mystery surrounds a decision by Microsoft South Africa to terminate two partner agreements with JSE-listed technology services group EOH.
EOH Holdings said on Wednesday that it was cleared of involvement over allegations of misconduct at Eskom.
EOH Holdings shares plummeted on Tuesday after Eskom published allegations that its former chief procurement officer was involved in acts of misconduct involving the listed technology group.
EOH Holdings said on Friday that it has appointed Megan Pydigadu as its new group financial director, replacing the long-serving John King, who is stepping down.