Board Change • May 23
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Sello Rasethaba was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 15
AYO Technology Solutions Limited Announces Board Committee Appointments AYO Technology Solutions Limited at its AGM held on May 15, 2025 approved to appoint Mr. L Jacobs, Ms RP Mosia, Mrs. AB Amod as a member of the SET committee. Announcement • Apr 01
AYO Technology Solutions Limited, Annual General Meeting, May 15, 2025 AYO Technology Solutions Limited, Annual General Meeting, May 15, 2025. New Risk • Dec 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended February 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 60% per year over the past 5 years. Market cap is less than US$10m (R171.6m market cap, or US$9.60m). Minor Risk Latest financial reports are more than 6 months old (reported February 2024 fiscal period end). Announcement • Oct 29
AYO Technology Solutions Limited Announces Resignation of Joel Moodley as A Non-Executive Director AYO Technology Solutions Limited announced that Mr. Joel Moodley has resigned as a non-executive director of the Company with effect from 25 October 2024, due to personal reasons. Announcement • May 29
AYO Technology Solutions Limited to Report First Half, 2024 Results on May 30, 2024 AYO Technology Solutions Limited announced that they will report first half, 2024 results on May 30, 2024 Board Change • Mar 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Sello Rasethaba was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 16
AYO Technology Solutions Limited Announces Changes to the Board and Board Committees Board of directors of AYO Technology Solutions Limited announced following changes with effect from 13 March 2024: Professor Louis CH Fourie has resigned as an Independent Non-Executive Director and Interim Chairperson of the Board. Professor Fourie joined the Board on 7 July 2020 and assumed the role of Interim Chairperson on 17 April 2023 following the passing of the previous Chairman, Dr Wallace Mgoqi. His tenure has been marked by steadfast leadership and significant contributions towards enhancing the Company's governance, strategic direction and restructuring efforts. Adv Dr NA Ramatlhodi, who is currently an Independent Non-Executive Director, has been appointed as the interim Independent Non-Executive Chairman of the Board while the Company is in the process of appointing a permanent Chairman. Adv Dr NA Ramatlhodi, who was first appointed to the Board in March 2018, will also serve on the Nomination Committee and Investment Committee. Mr. Wakeel Mclachlan has been appointed as an Executive Director of the Company. Mr. Mclachlan is a chartered accountant with more than 10 years' experience. Mr. Mclachlan currently holds the position of Chief Operating Officer of AYO and serves as a director of several of AYO's subsidiaries. Mr. Lucien Jacobs has been appointed as a Non-Executive Director of the Company. Mr. Jacobs, who has 13 years of Human Resources experience, holds a Bcom Honours Degree in Human Resources and is a Master's degree in Business Administration candidate. Mr. Joel Moodley has been appointed as a Non-Executive Director of the Company. Mr. Moodley has 15 years' industry experience within the ICT sector. Announcement • Mar 14
AYO Technology Solutions Limited Approves Board Appointments AYO Technology Solutions Limited announced that at its AGM held on 13 March 2024, the shareholders approved appointment of Adv Dr. NA Ramathlodi as a member of the Social, Ethics Transformation (SET) committee; Ms. RP Mosia as a member of the SET Committee; Ms. AB Amod as a member of the SET committee. Announcement • Feb 01
AYO Technology Solutions Limited, Annual General Meeting, Mar 13, 2024 AYO Technology Solutions Limited, Annual General Meeting, Mar 13, 2024, at 10:00 South Africa Standard Time. Announcement • Dec 13
AYO Technology Solutions Limited Announces Resignation of Valentine Dzvova as Non-Executive Director AYO Technology Solutions Limited announced that Mrs. Valentine Dzvova has resigned as a non-executive director of the Company with effect from 12 December 2023. Reported Earnings • Dec 07
Full year 2023 earnings released: R1.81 loss per share (vs R0.79 loss in FY 2022) Full year 2023 results: R1.81 loss per share (further deteriorated from R0.79 loss in FY 2022). Revenue: R2.25b (up 28% from FY 2022). Net loss: R619.8m (loss widened 129% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 54% per year and the company’s share price has also fallen by 54% per year. Announcement • Oct 31
AYO Technology Solutions Limited Announces Resignation of Jowayne Van Wyk as Non-Executive Director The board of directors of AYO notified shareholders that Jowayne van Wyk has resigned as a non-executive director of the Company with effect from 27 October 2023. New Risk • Oct 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended February 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 66% per year over the past 5 years. Market cap is less than US$10m (R168.2m market cap, or US$8.84m). Minor Risk Latest financial reports are more than 6 months old (reported February 2023 fiscal period end). New Risk • Oct 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: R175.0m (US$9.06m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 66% per year over the past 5 years. Market cap is less than US$10m (R175.0m market cap, or US$9.06m). Buying Opportunity • Aug 02
Now 51% undervalued after recent price drop Over the last 90 days, the stock is down 72%. The fair value is estimated to be R2.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jun 07
First half 2023 earnings released: R0.79 loss per share (vs R0.34 loss in 1H 2022) First half 2023 results: R0.79 loss per share (further deteriorated from R0.34 loss in 1H 2022). Revenue: R1.01b (up 28% from 1H 2022). Net loss: R205.8m (loss widened 76% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Board Change • May 25
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Sello Rasethaba was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 18
AYO Technology Solutions Limited Announces Demise of Dr. Dennis George, Independent Non-Executive Director The board of directors of AYO Technology Solutions Limited announced the passing of Dr. Dennis George, the company's independent non-executive director, on 15 May 2023. Dr. Dennis George, who joined the Board in 2018, was a pioneer of the company's broad-based black economic empowerment mandate to transform the South African ICT sector. Announcement • Dec 24
AYO Technology Solutions Limited Announces Management Changes AYO Technology Solutions Limited has also appointed Mr. Isaiah Tatenda Bundo, currently the Chief Financial Officer, as acting Chief Executive Officer ("CEO") with effect from 13 December 2022, following the retirement of Mr. H Plaatjes. The Board has begun the process of appointing a permanent successor and expects to fill the CEO position within the first quarter of the next calendar year, 2023. Buying Opportunity • Dec 22
Now 30% undervalued after recent price drop Over the last 90 days, the stock is down 31%. The fair value is estimated to be R3.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company became loss making. Announcement • Dec 20
AYO Technology Solutions Limited, Annual General Meeting, Feb 22, 2023 AYO Technology Solutions Limited, Annual General Meeting, Feb 22, 2023, at 10:00 South Africa Standard Time. Upcoming Dividend • Dec 14
Upcoming dividend of R0.60 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 28 December 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 32%. Within top quartile of South African dividend payers (8.7%). Higher than average of industry peers (8.7%). Reported Earnings • Dec 01
Full year 2022 earnings released: R0.79 loss per share (vs R0.75 loss in FY 2021) Full year 2022 results: R0.79 loss per share (further deteriorated from R0.75 loss in FY 2021). Revenue: R1.76b (up 3.3% from FY 2021). Net loss: R270.3m (loss widened 4.3% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Buying Opportunity • Oct 27
Now 34% undervalued after recent price drop Over the last 90 days, the stock is down 39%. The fair value is estimated to be R3.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Jun 01
Upcoming dividend of R0.35 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 13 June 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 24%. Within top quartile of South African dividend payers (7.9%). Higher than average of industry peers (5.9%). Reported Earnings • May 22
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up R103.6m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Announcement • May 20
AYO Technology Solutions Limited to Report Q2, 2022 Results on May 20, 2022 AYO Technology Solutions Limited announced that they will report Q2, 2022 results on May 20, 2022 Upcoming Dividend • Dec 15
Upcoming dividend of R0.30 per share Eligible shareholders must have bought the stock before 22 December 2021. Payment date: 28 December 2021. The company is not currently making a profit and is not cash flow positive. Trailing yield: 28%. Within top quartile of South African dividend payers (7.5%). Higher than average of industry peers (6.9%). Executive Departure • Nov 29
Executive Director Ismet Amod has left the company On the 23rd of November, Ismet Amod's tenure as Executive Director ended after 2.8 years in the role. As of September 2021, Ismet still personally held only 1.25k shares (R4.4k worth at the time). Ismet is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.83 years. Announcement • Nov 27
AYO Technology Solutions Limited Provides Earnings Guidance for the Fiscal Year Ending August 31, 2021 AYO Technology Solutions Limited provides earnings guidance for the fiscal year ending August 31, 2021. For the period, the company expects to report basic loss per share of between 74.89 and 76.10 compared to earnings per share of 6.20 reported for year ended 31 August 2020. Upcoming Dividend • Jun 02
Upcoming dividend of R0.65 per share Eligible shareholders must have bought the stock before 09 June 2021. Payment date: 14 June 2021. Trailing yield: 24%. Within top quartile of South African dividend payers (7.6%). Higher than average of industry peers (8.0%). Reported Earnings • May 29
First half 2021 earnings released: R0.30 loss per share (vs R0.36 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: R859.4m (down 36% from 1H 2020). Net loss: R103.6m (down 184% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 46% per year, which means it has not declined as severely as earnings. Announcement • May 26
AYO Technology Solutions Limited Announces Declaration of Interim Dividend for the Six Months Ended 28 February 2021, Payable on June 14, 2021 AYO Technology Solutions Limited announced gross interim dividend of 65 cents per share has been declared by the Board of AYO out of income reserves in respect of ordinary shares of no-par value for the six months ended 28 February 2021. A dividend withhold tax of 20% or 13 cents per share will be applicable, resulting in a net dividend of 52 cents per share unless the shareholder concerned is exempt from paying dividend withholding tax. Dividend will be payable on June 14, 2021, record date is June 11, 2021 and trading ex-dividend commences on 9 June 2021. Upcoming Dividend • Dec 02
Upcoming Dividend of R0.65 Per Share Will be paid on the 14th of December to those who are registered shareholders by the 9th of December. The trailing yield of 13% is in the top quartile of South African dividend payers (9.7%), and it is higher than industry peers (3.9%). Is New 90 Day High Low • Nov 25
New 90-day high: R7.75 The company is up 41% from its price of R5.50 on 27 August 2020. The South African market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 15% over the same period. Announcement • Nov 12
AYO Technology Solutions Limited Announces Resignation of Sello Rasethaba as an Independent Non-Executive Director AYO Technology Solutions Limited announced that Sello Rasethaba has, due to personal reasons, resigned as an independent non-executive director of the Company with immediate effect. Is New 90 Day High Low • Sep 30
New 90-day low: R3.50 The company is down 39% from its price of R5.75 on 02 July 2020. The South African market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 9.0% over the same period. Announcement • Aug 21
AYO Technology Solutions Limited (JSE : AYO) agreed to acquire Kathea Communication Solutions (Pty) Ltd from Kathea Empowerment (Pty) Limited & Kathea Holdings (Pty) Limited for R89.8 million. AYO Technology Solutions Limited (JSE : AYO) agreed to acquire Kathea Communication Solutions (Pty) Ltd from Kathea Empowerment (Pty) Limited & Kathea Holdings (Pty) Limited for R89.8 million on August 21, 2020. The transaction is subject to due diligence. The transaction is subject to approval of AYO Technology Solutions Limited's board & shareholders. The transaction is subject to approval of Kathea Communication Solutions (Pty) Ltd's shareholders.