A hasty settlement between the PIC and Iqbal Survé’s Ayo is a stinging slap in the face for good governance from the steward of public servants’ R2.5-trillion pension money.
Remarkably, for an institution that claimed it was in the public interest for it to pursue court action against Ayo Technology Solutions, the Public Investment Corp is not prepared to disclose any of the terms of its settlement with the Iqbal Survé-controlled listed company, revealed on Friday.
Equally remarkably, given that Ayo is a listed company, those terms are known to only a few lucky insiders. Andre Visser, director of Issuer Regulation at the JSE, tells the FM it’s been engaging with the company to determine whether a Sens notice must be published. ..
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