The PIC has been locked in battle with Ayo in the Western Cape High Court in an attempt to claw back billions, plus interest, on behalf of the Government Employees Pension Fund. Stock photo.secretive deal between the Public Investment Corporation and Ayo Technology Solutions and demands transparency about the settlement.
On Friday, the PIC announced it had reached a settlement regarding the proceedings it had instituted in the Western Cape High Court, where it was seeking to recover a R4.3bn investment in Ayo.The details of the settlement, which was made an order of the court, were not revealed by the PIC.The union called on the PIC to provide the details of the settlement with Ayo, failing which it would have no other option than to consider litigation.
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PSA wants details of deal between PIC and AyoThe Public Servants Association says it rejects the secretive deal between the Public Investment Corporation and Ayo Technology Solutions and demands transparency about the settlement.
Source: BDliveSA - 🏆 12. / 63 Read more »
PSA demands details of 'secretive' court settlement between PIC and AyoPSA demands details of 'secretive' court settlement between PIC and Ayo: The Public Servants Association says it rejects the secretive deal between the Public Investment Corporation and Ayo Technology Solutions and demands transparency about the…
Source: SABreakingNews - 🏆 41. / 51 Read more »
Ayo Technology reaches secret settlement with the PICCompany controlled by Independent Media owner Iqbal Survé says talks with the Public Investment Corporation reached an ‘amicable conclusion’ Is the PIC a private or public institution. More secrets. Why?
Source: BDliveSA - 🏆 12. / 63 Read more »
Ayo forecasts were ‘unrealistic and fanciful’, claims expertAyo Technology Solutions’ plan to capture as much as 8% of South Africa’s ICT market was not without substance. But at least one expert claims its revenue forecasts were more than a little overblown. If true, this may strengthen the PIC’s R4.3bn claim against the company 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 That’s what due diligence before the making the deal is for, surely?
Source: FinancialMail - 🏆 20. / 63 Read more »
Ayo forecasts were ‘unrealistic and fanciful’, claims expertAyo Technology Solutions’ plan to capture as much as 8% of South Africa’s ICT market was not without substance. But at least one expert claims its revenue forecasts were more than a little overblown. If true, this may strengthen the PIC’s R4.3bn claim against the company To me it appears simple. Survey lied, AYO lied. About everything. It was all bullshit. They then vacuumed out the PIC's cash as 'dividends'. But how on earth does this relate to their mediated settlement announced Friday ?
Source: FinancialMail - 🏆 20. / 63 Read more »