AYO TECHNOLOGY SOLUTIONS LIMITED - Update on Legal Proceedings and Withdrawal of Cautionary Announcement

Update on Legal Proceedings and Withdrawal of Cautionary Announcement

AYO TECHNOLOGY SOLUTIONS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1996/014461/06
JSE share code: AYO
ISIN: ZAE000252441
("AYO" or "the Company")

UPDATE ON LEGAL PROCEEDINGS AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Further to the announcement released on SENS on 6 March 2023 regarding the
commencement of legal proceedings between the Company, the Public Investment
Corporation (“PIC”) and the Government Employees Pension Fund (“GEPF”) (“the
Parties”), shareholders are hereby advised that such proceedings have ceased
following the amicable conclusion of a settlement agreement between the
Parties. The agreement, the terms of which are confidential, was subsequently
made an order of court on Friday, 24 March 2023.

As a result of the aforementioned, caution is no longer required to be
exercised when dealing in the Company’s securities.



Cape Town
24 March 2023

Joint Sponsor
Vunani Corporate Finance

Joint Sponsor
Merchantec Capital

Date: 24-03-2023 04:01:00
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