EOH is not out of the woods yet
Meaningful improvements have taken place but challenges remain, and a new name alone is not enough to guarantee smooth sailing
At the end of November, shareholders of technology services group EOH will assemble for the company’s AGM. Among the usual resolutions, there’s a proposal on the table to change the name to iOCO Ltd, which is what the group’s most important subsidiary is called.
Name changes happen for various reasons. At this group, it closes the curtain on a period in the company’s history that saw it fall foul of the worst things about South Africa. After extensive corruption nearly killed the group, it had to work a few miracles to save it in the form that we see today. For that reason, we will go with the name iOCO in this analysis on the assumption that shareholders will be thrilled to put a nail in the coffin of the EOH story...
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