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Khalid Abdulla, AEEI Group CEO

AYO Technology (AYO), an Information and Communications Technology (ICT) company is scheduled to list on the JSE next week. 

Earlier today, 13 December 2017, AYO Technology posted its abridged pre-listing statement in preparation for its Listing on the main board of the Johannesburg Stock Exchange.

AYO is majority black-owned with at least 30% of the company owned by women.

Parent company, AEEI will own 49% of the shares post listing, a number of unions, amongst other the South African Clothing and Textile Workers Union (Sactwu), the Police and Prison Civil Rights Union (Popcru) and the Federation of Unions of South Africa (Fedusa) are also shareholders. The unions have invested into AYO because the company represents true broad based transformation and has a value creation business model.

Through AYO’s strategic relationship with BT Communications Services South Africa Proprietary Limited, (BT) and with capital raised, acquisitions in the pipeline, AYO Technology will be one of the largest and most empowered multidisciplinary ICT groups in the country.

AYO and its subsidiaries and investments have a full suite of products and services which delivers turnkey ICT solutions.

In addition to becoming an equity holder in BT, AYO has entered into an Alliance Agreement with BT, in terms of which AYO and BT have formed a further strategic partnership in South Africa to further grow within South Africa and abroad.

Khalid Abdulla, AEEI Group CEO says AYO was created from a desire to effect real change in South Africa and beyond its borders by adapting its business model with the changing environment as well as new codes and policies.

Abdulla also said ICT has changed the lives of many people and with the Fourth Industrial Revolution, the trend will not only continue, but will speed up markedly over the next few years and we are ready to expand with these new opportunities.

“AYO companies are highly scalable and reach across Africa and into Europe. It is an exciting time as we stride alongside giants in technology innovation. AYO is forging the way for many and this is an opportunity for medium to long term growth prospects,” says Abdulla.

As a condition to the listing and in order to provide AYO Technology Solutions with additional capital to fund its further expansion, AYO will, on the date of listing, issue shares to eligible investors by way of a private placement.

Following the further issue of shares in the issued share capital of AYO, AEEI’s shareholding in AYO will, as a result of the share issue, scale back to 49 percent in AYO.

AEEI’s investment in BT means that AYO and BT are well positioned to grow consistently over the next few years. Earnings and dividends have grown consistently over the past few years and this is expected to continue in the foreseeable future.

AYO reported an increase in revenue of 183% for the 2017 financial year end as compared to 2016, after acquiring majority stakes in various new companies as well as continued organic growth. In terms of acquisitions, Abdulla said that AYO was engaging with numerous target companies, while continuing with further growth prospect in South Africa and into Africa.

As part of AYO strategic relationships and growth strategy, its empowerment credentials, various target companies have been selected for its complementary products and services to bolster the offering to its existing and new clients.

The capital raised on listing is predominantly to accelerate further growth through acquisitions and building further value creating relationships and partnerships.

The South African ICT market is experiencing exponential growth and consolidation to offer turnkey and digital solutions and AYO is well positioned to take its place as one of the leading and most empowered ICT Groups in the South African market.

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