AYO opposes shareholder over winding-up application
Firm says application is based on misapplied and narrow interpretation of the Companies Act
26 January 2025 - 18:41
AYO Technology Solutions is facing a legal challenge from a minority shareholder who holds 0.13% of the company’s shares and is seeking to have it wound up.
The application was lodged in the Western Cape High Court by the shareholder who is believed to be acting as the executor of his late father’s estate. It is reported to relate to the depreciation of AYO’s shares, prompting the move to seek the company’s liquidation...
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