Shares in EOH fell as much as 7.5% on the news in morning trading
The Microsoft sign is shown on top of the Microsoft Theatre in Los Angeles, California, US, on October 19 2018. Microsoft has confirmed the termination of its contract with EOH. Picture: MIKE BLAKE
Its subsidiary, EOH Mthombo, is no longer a reseller of Microsoft software licences, after the expiry of a notice period, EOH said in a statement on Monday. The assessed effect on profit would be less than R20m in the current financial year, it said. EOH’s share price fell as much as 7.5% to R13 before paring losses to trade at about R14 by 12.51pm. This has pushed the slide since the end of 2018 to just under 55%, shaving off about R3bn from the company’s market capitalisation.
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