JSE fines Ayo R1.5m for not publicly disclosing key information
The bourse’s latest decision against IT firm relates to various transactions and agreements with related companies between 2017 and 2019
The JSE has censured and fined software and technology group Ayo Technology Solutions R1.5m for not publicly disclosing money that was moved around between related companies.
This is the latest episode in the saga over Ayo, its holding company and major shareholder African Equity Empowerment Investment Holdings Limited (AEEI) and transactions with asset manager 3 Laws Capital, which led to fines for former Ayo CFO Naahied Gamieldien and Abdul Malick Salie, a former director of AEEI, last month (https://www.businesslive.co.za/bd/companies/telecoms-and-technology/2022-11-29-jse-fines-former-ayo-and-aeei-executives-r250000-each-for-breaching-listing-rules/)...
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