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AYO TECHNOLOGY SOLUTIONS LIMITED - Short-Form Announcement: AIR For The 6 Months Ended 28 February 2019, Feedback On Jse Requests Of 10 April 2019

Release Date: 08/04/2020 17:40
Code(s): AYO     PDF:  
 
Wrap Text
Short-Form Announcement: AIR For The 6 Months Ended 28 February 2019, Feedback On Jse Requests Of 10 April 2019

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


SHORT-FORM ANNOUNCEMENT: AUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED
28 FEBRUARY 2019, FEEDBACK ON JSE REQUESTS OF 10 APRIL 2019 AND WITHDRAWAL OF
PREVIOUSLY RELEASED UNAUDITED INTERIM RESULTS

    1. Highlights

    •   Revenue increased by 98% to R690 million from R349 million in the prior period
    •   Profit before tax increased by 113% to R166 million from R78 million in the prior period
    •   Earnings per share increased by 87% to 28.61 cents per share from 15.29 cents per share in
        the prior period
    •   Headline earnings per share increased by 90% to 28.56 cents per share from 15.06 cents per
        share in the prior period
    •   Total assets increased by 15% to R5.2 billion from R4.6 billion in the prior period.

    2. Audited interim results

Shareholders are referred to the announcement released on SENS on Thursday, 11 April 2019
regarding a letter from the JSE Limited (“JSE”) sent to the Company on 10 April 2019 requesting the
company to, inter alia, obtain an audit opinion on the interim results for the six months ended 28
February 2019 (“2019 Interim Results”) and the interim results for the six months ended 28 February
2018 (“2018 Interim Results”).

The Company wishes to inform shareholders that it has complied fully with the JSE’s request and that
the audit of the 2019 Interim Results are complete. The audit of the 2018 Interim Results was
completed on Friday 27 March 2020.

The audited 2019 Interim Results             are   available   on   the   Company’s     website     at
https://ayotsl.com/interim-results/

The full announcement in respect of the audited 2019 Interim Results are available at
https://senspdf.jse.co.za/documents/2020/jse/isse/ayoe/AYOIR2019.pdf and on
the Company’s website at https://ayotsl.com/interim-results/

Copies of the full announcement in respect of the audited 2019 Interim Results may also be requested
from the Company secretary at wazeer.moosa@ayotsl.com and either of the joint sponsors, being
Vunani      Sponsors     or   Merchantec        Capital,   at    sponsor@vunanicapital.co.za      or
sponsorteam@merchantec.co.za. Given the lock-down these will be sent electronically upon request.

This short-form announcement is the responsibility of the board of directors. This announcement is a
summary of the information in the full announcement and does not contain full or complete details.
Any investment decision by investors and/or shareholders should be based on consideration of the
full announcement which has been released on SENS and available for viewing on the Company's
website.



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The unqualified audit report, including key audit matters relating to the audited 2019 Interim Results
is available for inspection at the Company's registered office.


    3. Feedback on the JSE’s requests of 10 April 2019

Following the completion of a review by management, certain corrections to the unaudited 2019
Interim Results which arose as a result of incorrect application of judgements and accounting errors
have been identified.

Shareholders are referred to the supplementary information of the audited 2019 Interim Results for
a summary of the corrections made to the unaudited 2019 Interim Results.

For further details on the Group's financial position and performance during the interim period please
refer to the full announcements which can be obtained as per the instructions set out above.

    4. Withdrawal of unaudited interim results

Shareholders are referred to the announcement released on SENS on 1 April 2019 regarding the
release of AYO’s unaudited 2019 Interim Results and are advised that as per the completion of the
request by the JSE, the 2019 Interim Results have been audited and as such the previously unaudited
2019 Interim Results are hereby withdrawn and replaced with the audited 2019 Interim Results.



Cape Town

8 April 2020




Joint Sponsor

Vunani Sponsors




Joint Sponsor

Merchantec Capital




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Date: 08-04-2020 05:40:00
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