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.
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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.
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