Former Public Investment Corporation CEO Dan Matjila gives evidence during the Judicial Commission of Inquiry into the PIC in 2019.Former Public Investment Corporation head Dan Matjila signed an"irrevocable undertaking" to buy R4.3 billion worth of shares in IT group AYO in early December 2017 without telling staff, the Western Cape High Court has heard.
Lebogang Molebatsi, the state-run asset manager's general manager for listed equities, told the court on Wednesday that he didn't know Matjila had signed the undertaking on 4 December 2017. Molebatsi said he and colleagues were, at that time, still working on the investment case for AYO's initial public offering. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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