After sinking R4bn into AYO, PIC will get R619m back in new deal | Business

Iqbal Surve gives evidence during the Judicial Commission of Inquiry into the Public Investment Corporation in 2019. IT group AYO has revealed the details of its confidential settlement with the Public Investment Corporation , saying it will repurchase R619 million in shares from the Government Employees Pension Fund and grant it two seats on its board. that still had at least two weeks to run. The PIC invests on behalf of the GEPF.

But on Monday morning AYO changed tack, saying it had agreed to repurchase just over 17 million shares from the GEPF for R619 million as part of the deal. Following the repurchase, the GEPF will retain a minimum shareholding of about 25% in the IT group.

YOU ARE ALL THE SAME

Have yoh found the 10 babies yet?

All media are FAKE news

THIS is why we - intelligent, selective and extremely well-informed - readers are turning away from MSM, MSM cannot be trusted. It is regurgitation, re-tweaking, re-hashing. It's all incredibly grubby, and when we look at a journalist, what we see is a bottom feeder.

🤣🤣👏 you acting like you are independent media fucking hilarious 😂! Like all of you don't have directives and agendas🤧 oh the comedy

IqbalSurve now this is the pot calling the kettle black. And you walk among us!!!!! One day bru you will need to answer...

SA media landscape has been FAKE NEWS for decades already, why would it take a random news co from across the world to expose deep high level 'corruption', again for many years now

Wena you are worse when coming to fake news,just last week you lied to whole South Africa and reported that AKA's killers were arrested, 2021 you lied to the whole world saying Tembisa Couple were blessed with 10 kids ...🤣🤣🤣. Stop throwing stones in a glass houses.

You're both 🗑️

IOL Papers was the best around world rags now very sad

elonmusk must see what News24 is

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After sinking R4bn into AYO, PIC will only get R619m back in new deal | BusinessIT group AYO has revealed the details of its confidential settlement with the Public Investment Corporation, saying it will repurchase R619 million in shares from the Government Employees Pension Fund and grant it two seats on its board. That's not really news. So R3.4 billion was stolen then...I love it🤣🤣🤣 🙄🙄🙄🙄🙄🙄👀👀👀nazoke R4billion ,government employees pension money..now their profits is R619million,I don't think there is money in the pension fund,not so long yhe minister will sign non disclosure from Pic,government pension fund, anything is possible
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