AYO TECHNOLOGY SOLUTIONS LIMITED - Update on the Disposal by Sizwe Africa of its 70% Interest in Cyberantix
Update on the Disposal by Sizwe Africa of its 70% Interest in Cyberantix
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")
UPDATE ON THE DISPOSAL BY SIZWE AFRICA OF ITS 70% INTEREST IN CYBERANTIX
Shareholders are referred to the announcement released on SENS on 8 October 2024
("Announcement") wherein the Board advised that Sizwe Africa IT Group Proprietary Limited ("Sizwe"
or the "Seller"), an indirect 55% owned subsidiary of AYO, had entered into a sale of shares and claims
agreement ("Agreement") with Mustek Limited ("Mustek" or the "Purchaser") and Cyberantix
Proprietary Limited ("Cyberantrix") for the sale of Sizwe's 70% interest in the issued share capital of
Cyberantrix ("Sizwe Shares") and all shareholder claims on loan account or otherwise held by Sizwe
against Cyberantix ("Sizwe Claims"), as one indivisible transaction, for a total consideration of R20
million ("Disposal").
Shareholders were advised in the Announcement that the Company would seek clarity from the JSE to
obtain certainty regarding potential related party implications.
The Company hereby advises that the JSE has ruled that the Disposal is not classified as a related party
transaction pursuant to paragraph 10.1(b) of the Listings Requirements.
Cape Town
1 November 2024
Joint Sponsor
Vunani Sponsors
Joint Sponsor
Merchantec Capital
Date: 01-11-2024 04:25:00
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