AYO TECHNOLOGY SOLUTIONS LIMITED - Withdrawal of Cautionary Announcement

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")


Withdrawal of Cautionary Announcement

Shareholders are referred to the cautionary announcement dated
4 June 2019 (“Cautionary Announcement”) and the various subsequent
renewals of the Cautionary Announcement, the most recent of which was
dated 17 January 2020, regarding the audit currently being undertaken
on the Company’s interim results for the six months ended
28 February 2018 (“2018 Interim Results”).

Shareholders are further referred to the Company’s reviewed
preliminary condensed consolidated results for the year ended
31 August 2019 released on SENS on 20 December 2019, the change
statement in respect of the aforementioned results released on SENS
on 31 January 2020 and the Company’s Integrated Annual Report
incorporating the audited consolidated annual financial statements
for the year ended 31 August 2019 posted on the Company’s website on
31 January 2020 (“2019 Integrated Annual Report”).

Shareholders are advised that Ayo is withdrawing the Cautionary
Announcement based on the following:

•   The 2019 Integrated Annual Report, which contained an unmodified
    audit report, has been released and contains the most recent audited
    financial results of Ayo which the Company believes is more relevant
    for making investment decisions in respect of Ayo than the
    2018 Interim Results; and

•   The 2019 Integrated Annual Report, contains the audited results for
    the year ended 31 August 2018 (“2018 Financial Year”) and hence any
    investor who wishes to analyse how the Company performed in its
    2018 Financial Year has the 2018 Financial Year audited results
    available which are more relevant for this purpose than the
    2018 Interim Results.

Accordingly, shareholders no longer need to exercise caution when
dealing in the Company's securities.


Shareholders are advised that the above mentioned audit in respect of
the 2018 Interim Results is in process and despite the withdrawal of
the Cautionary Announcement, will continue.


Cape Town
18 February 2020

Joint Sponsor
Vunani Corporate Finance

Joint Sponsor
Merchantec Capital

Date: 18-02-2020 08:40:00
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