BUSINESS MAVERICK: Ayo warns shareholders that PIC case could materially affect share price

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 84%

Indonesia Berita Berita

Indonesia Berita Terbaru,Indonesia Berita utama

More than five years later, the Public Investment Corporation is still trying to recover a R4.3-billion investment in Ayo Technology, alleging due process was not followed and Ayo apparently misrepresented key information. The case began in the Western ...

The Public Investment Corporation is looking for the transaction to be declared unlawful and set aside. Ayo has advised shareholders that the legal proceedings may have a material effect on its share price. Over the past year, shareholders have taken a 13.29% hit, with the share pricing falling from R4.44 on 9 March 2022 to close at R3.60 on Monday, 7 March 2023.

According to court documents lodged in 2019, Ayo Technology – represented by Iqbal Survé, Khalid Abdulla, Abdul Salie and Nomvuyo Dube – had approached the PIC with this potential investment. The PIC was represented by former chief executive Daniel Matjila, Victor Seanie, Fidelis Madavo and Lebogang Molebatsi. Matjila and Molebatsi signed two irrevocable subscription applications in December 2017.

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

 /  🏆 3. in İD
 

Terima kasih atas komentar Anda. Komentar Anda akan dipublikasikan setelah ditinjau.

Where the dividends. Any legitimate company declares dividends before rearranging the deck chairs. All lies.

And won't see a Cent. Indians and blacks. Never see a Cent.

They must just ask nicer. The comrade will feel sorry, and then give it back.

Iqbal and his skelm cabal already ate that money.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Years of power cuts and greylisting will further erode SA's investment status - Nedbank CEO | BusinessMike Brown says the government's slow pace in addressing the electricity crisis and shortcomings that landed SA on the grey list will be more detrimental in the long term. | News24_Business _Business And was it not Mike Brown's bank Nedbank who have been implicated in various scandals over r the year of rand manipulation, state capture and other money laundering operations. _Business Many remember Eskom problems and want to change gov't yet they cannot remember their past iniquities _Business Mr Brown is 100% correct. The government destroyed the future of its citizens. The ANC & 🤵🏿‍♂️don't think long term.
Sumber: News24 - 🏆 4. / 80 Baca lebih lajut »

Rhea Infras Expands Its Fibre Investment PortfolioCommunication technology has undergone significant advancement since its inception and continues to evolve, providing more seamless communication and data exchange across multiple devices and platforms.
Sumber: BusinessTechSA - 🏆 24. / 61 Baca lebih lajut »

SA banks remain a solid investment[ICYMI] MoneywebNow podcast with SimonPB, Anchor Capital’s RekoNare Nare talks through Shoprite and Nedbank’s results, and the CEOs of Mpact and Sea Harvest comment on results. Download podcast: SimonPB Owning a standard eatery wasn't part of my expectations, but After a withdrawal of R80k maximum from a weekly investment of R9k i must say CowdenBNB is one of the bestest trader you'll want to start with., thank you CowdenBNB cause I'm financially stable now SimonPB Behind every successful person there's always a helper CowdenBNB is the person behind my success story she helped me earn R200,000. thanks for restoring my hope once again CowdenBNB
Sumber: Moneyweb - 🏆 5. / 77 Baca lebih lajut »