“Unrealistic and fanciful.” That’s how accounting expert Harvey Wainer describes the forecast contained in Ayo Technology Solutions’ prelisting statement — the statement used to persuade the Public Investment Corp to splurge a hefty R4.3bn on the previously unknown company in December 2017.
Wainer was giving evidence in the civil case the PIC has launched in an attempt to claw back those billions, as well as some interest. The country’s largest asset manager, which invests on behalf of government employees, claims that Ayo misrepresented what it intended to do with the funds, and overstated its crucial relationship with British Telecoms South Africa ...
That’s what due diligence before the making the deal is for, surely?
Hello Everyone. I can’t just say how grateful I’m to Micheal_1thomas Him the best thing that has happened to me after my failed past experience with crypto trading. Do anything crypto with him. Micheal_1thomas
Technology Technology Latest News, Technology Technology Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PIC and Ayo reach settlement in battle over 'positive misrepresentations' on R4.3bn investmentThe Public Investment Corporation (PIC) and AYO Technology Solutions have reached a settlement over 'positive misrepresentations' that led to a R4.3bn investment controversially being scored by AYO in December 2017.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
PIC and Ayo reach settlement in battle over 'positive misrepresentations' on R4.3bn investmentPIC and Ayo reach settlement in battle over 'positive misrepresentations' on R4.3bn investment: The Public Investment Corporation (PIC) and AYO Technology Solutions have reached a settlement over 'positive misrepresentations' that led to a R4.3bn…
Source: SABreakingNews - 🏆 41. / 51 Read more »