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AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED - Withdrawal of Transactional Banking Facilities at Major Subsidiary

Release Date: 03/05/2021 13:10
Code(s): AEE     PDF:  
Wrap Text
Withdrawal of Transactional Banking Facilities at Major Subsidiary

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1996/006093/06
Share code: AEE
ISIN: ZAE000195731
(“AEEI” or "the Company")

WITHDRAWAL OF TRANSACTIONAL BANKING FACILITIES AT MAJOR SUBSIDIARY

Shareholders of AEEI are advised that AYO Technology Solutions Limited
(“AYO”), a major subsidiary of AEEI, released an announcement on SENS
on Friday, 30 April 2021 regarding:

•   AYO’s application for an urgent interdict against FNB, pending the
    hearing of its main application, being struck off the roll for lack
    of urgency;
•   The alternative third-party payment solutions AYO has put in place
    which will ensure continuity of its business; and
•   The withdrawal of the cautionary AYO was previously trading under.

AEEI will keep shareholders updated of any further developments in
this regard.

Cape Town
3 May 2021

Joint Sponsor
Vunani Sponsors

Joint Sponsor
Merchantec Capital

Date: 03-05-2021 01:10:00
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