AYO TECHNOLOGY SOLUTIONS LIMITED - Summons Issued to Ayo

Summons Issued to Ayo

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")


SUMMONS ISSUED TO AYO

Shareholders are advised that on Friday, 31 May 2019, AYO received a
summons issued by the Public Investment Corporation (“PIC”) and
Government Employees Pension Fund (GEPF). The summons seeks a
declaration that the subscription agreement entered into by the PIC
with AYO be declared unlawful and set aside and that AYO be ordered
to pay the PIC R4,290,654,165.00, together with interest of 10.25%
per annum accrued from 22 December 2017 to date of final payment.

AYO has instructed its attorneys to oppose the action and is confident
of its position.

Cape Town
31 May 2019

Joint Sponsor
Vunani Corporate Finance

Joint Sponsor
Merchantec Capital

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