Nine days after Daily Maverick revealed the shocking details of the settlement reached between the Public Investment Corporation (PIC) and AYO Technology, the company has finally come clean and revealed full details to shareholders.
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After sinking R4bn into AYO, PIC will only get R619m back in new deal | BusinessIT group AYO has revealed the details of its confidential settlement with the Public Investment Corporation, saying it will repurchase R619 million in shares from the Government Employees Pension Fund and grant it two seats on its board.
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After sinking R4bn into AYO, PIC will get R619m back in new deal | BusinessIT group AYO has revealed the details of its confidential settlement with the Public Investment Corporation, saying it will repurchase R619 million in shares from the Government Employees Pension Fund and grant it two seats on its board.
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How Iqbal Survé’s Ayo wriggled off the hookA hasty settlement between the PIC and Iqbal Survé’s Ayo is a stinging slap in the face for good governance from the steward of public servants’ R2.5-trillion pension money.
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Ayo to repurchase R619m in shares from government pension fundThe Iqbal Survé-controlled company has confirmed some terms and conditions of its settlement deal with the PIC
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PIC sunk in dodgy dealingsThe bizarre settlement with Ayo over its R4.3bn investment is just the latest in a series of red lights at the institution that manages R2.5-trillion of South African workers’ money, writes Sabelo Skiti.
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PIC sunk in dodgy dealingsThe bizarre settlement with Ayo over its R4.3bn investment is just the latest in a series of red lights at the institution that manages R2.5-trillion of South African workers’ money, writes Sabelo Skiti.
Read more »