Generous bid for Phumelela; Distell profit fall; AYO’s hefty fine; Massmart
UK bookmaker Betfred has offered up to R925m for South Africa’s Phumelela Gaming and Leisure, which is currently in business rescue.
Ayo Technology Solutions
Trade unionist Dennis George cleared of allegations on AYO
FEDUSA dismissed Dennis George in May 2019 saying he was guilty of misconduct with respect to his private investment in Ayo Technology Solutions.
Flash Briefing: Markets ‘confused’ after cabinet; Omnia shares tumble; Ayo, PIC legal battle; Auntie Pat
The board of Ayo Technology Solutions is suing the Public Investment Corporation (PIC) for billions of rands for reputational damage.
Mpati Commission evidence lands Survé in fast-heating water
Veteran journalist Ed Herbst, meticulously pulls together strands of evidence and expert observations both at the Mpati Commission and beyond, to weave a very different narrative to the one Iqbal Survé’s newspapers have stitched together through commission and omission.
Flash Briefing: Sibanye shares tank; JSE wants Ayo audited; Bibi wins in Israel
South African gold and platinum producer Sibanye has announced that it had raised R1.7bn ($120m) in cash through selling the equivalent of 5% of its equity at R15.50 a share.
Flash Briefing: CIO claims Ayo “manufactured” financials; Gold, Plat shares surge; Strong Pick n Pay results
The former Chief Investment Officer of JSE-listed Ayo Technology Solutions yesterday told the commission of inquiry into the PIC that the company manufactured financial statements to secure a R4.3bn investment from South Africa’s State pensioners.
Ayo manufactured financials to secure R4.3bn investment from PIC says ex-CIO
Ayo Technology Solutions is at least partly an illegitimate business and has fabricated financial statements even while securing a R4.3bn investment by Africa’s biggest money manager, according to its former chief investment officer.
Wake up call for PIC to depoliticise or risk its investments
The Public Investment Corporation’s deals in recent years are firmly under the spotlight as a crisis unravels at the money manager.
Total mess: PIC plunged into turmoil by resignations
The institution responsible for government worker pension funds has been “destabilised” by a series of claims, including against at least four board members.
PIC moved too fast on Ayo, says suspended Seanie
Amid Victor Seanie’s revelations, one wonders what other smallanyana skeletons are going to start rolling out of the PIC’s gold-crested cupboard.