PIC vs Survé-linked AYO: R4.3bn deal was signed before due diligence was complete - ex-analyst | Business

The Western Cape High Court has heard that analysts at the Public Investment Corporation were still conducting due diligence on a proposal to buy shares in IT group AYO in late 2017 when they heard that then-CEO Dan Matjila had already signed the deal.

Seanie was giving evidence for the second day in the long-awaited civil case between the state-owned asset manager and AYO.

They need to hold him personally responsible for the losses. His assets must be confiscated. PIC and the Unions must convey a message to its office bearers crime doesn't pay.

Iqbal needs to go to jail

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BUSINESS MAVERICK: Ayo warns shareholders that PIC case could materially affect share priceMore 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 Cape High Court on Tuesday. Iqbal and his skelm cabal already ate that money. They must just ask nicer. The comrade will feel sorry, and then give it back. And won't see a Cent. Indians and blacks. Never see a Cent.
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