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AYO TECHNOLOGY SOLUTIONS LIMITED - Conclusion Of Long-Term Strategic Managed Services Partnership With Sasol And Withdrawal Of Cautionary Announcement

Release Date: 21/05/2018 16:30
Code(s): AYO     PDF:  
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Conclusion Of Long-Term Strategic Managed Services Partnership With Sasol And Withdrawal Of Cautionary Announcement

AYO TECHNOLOGY SOLUTIONS LIMITED
(Previously Sekunjalo Technology Solutions Limited)
(Incorporated in the Republic of South Africa)
Registration number: 1996/014461/06
JSE share code: AYO
ISIN ZAE000252441
(“AYO Technology” or the “Company”)

CONCLUSION OF LONG-TERM STRATEGIC MANAGED SERVICES PARTNERSHIP WITH SASOL
AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are hereby advised that the Company has entered into a long-term strategic partnership
agreement with integrated chemical and energy multinational Sasol South Africa Limited (“Sasol”) in order
for AYO Technology to provide and manage a set of products and services to Sasol (“Sasol Agreement”).

The salient terms of the Sasol Agreement are as follows:

    •   AYO Technology will provide and manage Sasol’s entire global network, communications and
        security services from South Africa;
    •   AYO Technology, whilst providing services in relation to this managed services contract, will also
        participate, where relevant, in Sasol’s digital transformation plans and execution;
    •   AYO Technology through its more than 70% black ownership and 33% black woman ownership
        will contribute to Sasol’s transformation objectives; and
    •   the Sasol Agreement is a long-term contract, the value of which cannot be divulged due to
        confidentiality clauses and competitor sensitive information.

The Sasol agreement is a significant agreement and the first contract finalised in line with the strategy and
deliverables set out in the pre-listing statement of the Company issued on 13 December 2017 (“Pre-listing
Statement”) and is expected to have a material impact on the revenue and earnings of AYO Technology
disclosed in the Pre-listing Statement and the revenue and earnings of AYO Technology when compared
to the revenue and earnings disclosed in the interim results for the six months ended 28 February 2018.

WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the Company’s cautionary announcement released on SENS on 18 April 2018
and are advised that as the detail of the Sasol Agreement has been included in this announcement, caution
is no longer required to be exercised by shareholders when dealing in the Company’s securities.


Cape Town
21 May 2018

Sponsor
PSG Capital

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