Ayo Technology Solutions is African Equity Empowerment Investments’ biggest investment. Picture: 123RF — GONGZSTUDIO
The Financial Sector Conduct Authority said in a report posted on its website on Monday that the “possible prohibited trading practices” happened between May 2018 and June 2018 in Ayo’s case and throughout 2018 in AEEI’s. Other share trades in the spotlight include those in Atlatsa Resources Corporation, Capitec, Fortress Income Fund, Greenbay Properties and Nepi Rockcastle.The illiquid stock, which the Public Investment Corporation controversially bought at R43 a share in December 2017, was trading at just R17 on Wednesday.
The CIPC argued that in making the investment, the PIC’s directors had knowingly caused harm to Africa’s largest asset manager.
If it were not for Magda Wierzycka would this have been brushed under the carpet?
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Ayo’s cash conundrum – can it pay back PIC billions?Ayo Technology Solutions will in all likelihood be unable to repay the R4.3 billion it got from the Public Investment Corporation (PIC) in a controversial investment in December 2017. 😮 Then surve must sell all his companies...PAY BACK DA MONEY😡😡😡😡😡 Amazing how we now talk of billions as it is small change. Thanks ANC😳
Source: City_Press - 🏆 7. / 72 Read more »
Dennis George says Fedusa suspension to tarnish his reputationGeorge has been informed by his union this morning that his special leave has now been turned into precautionary suspension in the wake of allegations that he bought shares in Ayo Technology Solutions without informing the federation. If I was not an African, I would be ROFL. This expectancy that the average citizen believes the crap guilty corrupt officials spew, is beyond comprehension.
Source: ewnupdates - 🏆 30. / 53 Read more »
Ayo’s cash conundrum – can it pay back PIC billions?Ayo Technology Solutions will in all likelihood be unable to repay the R4.3 billion it got from the Public Investment Corporation (PIC) in a controversial investment in December 2017. 😮 Then surve must sell all his companies...PAY BACK DA MONEY😡😡😡😡😡 Amazing how we now talk of billions as it is small change. Thanks ANC😳
Source: City_Press - 🏆 7. / 72 Read more »