COMPANY COMMENT
EOH should disclose why Microsoft ended partnership
TechCentral reports that Microsoft’s decision is related to an anonymous complaint to the US SEC about a R120m software deal between EOH and SA’s department of defence
The market is understandably disappointed at EOH’s lack of transparency about why Microsoft decided to end their partnership. In its stock exchange news announcements last week, EOH said it was not entirely clear why Microsoft had terminated their reseller agreement — even though the companies had met. But on Monday, TechCentral reported that Microsoft’s decision was related to an anonymous complaint to the US Securities and Exchange Commission about a R120m software deal between EOH and SA’s department of defence. Cy Jacobs, CEO of 36One Asset Management, Tweeted: “I have to wonder when EOH was going to inform the market … surely at least after the Microsoft meeting the company had the responsibility to inform shareholders.” EOH said in an update on Tuesday its investigations into past bids for state contracts, in conjunction with ENSafrica, were ongoing. The company was obtaining information from whistle-blowers and corroborating internal facts as part of “a thorough and detailed ...
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