![Ayo agrees to repay PIC](https://cdn.magzter.com/1605701739/1719527811/articles/QwbGGtU5v1719534256020/AYO-AGREES-TO-REPAY-PIC.jpg)
Tech investment group Ayo Technology Solutions received 99% shareholder support on Wednesday for a settlement agreement that will see it repurchase 17.2 million shares and hand over R619 million to the Public Investment Corporation (PIC).
This is well short of the R4.3 billion invested by the PIC, then under the stewardship of former chief executive Dan Matjila, for a 29% share in Ayo prior to its listing on the JSE in 2017.
Ayo, part of Iqbal Survé's Sekunjalo group, was hauled to court by the PIC in 2019, seeking an order to undo the share subscription agreement between Ayo and the PIC and have it set aside on the grounds that the investment case was based on misrepresentations.
The PIC asked the court to order Ayo to repay the R4.3 billion it had invested, with interest at 10.25% a year.
A settlement was reached more than a year ago and then made an order of court.
Controversial
هذه القصة مأخوذة من طبعة June 28, 2024 من The Citizen.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 28, 2024 من The Citizen.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
![England feel the heat](https://reseuro.magzter.com/100x125/articles/23703/1756391/IlbZCH8Yo1720237042556/ENGLAND-FEEL-THE-HEAT.jpg)
England feel the heat
SOUTHGATE: SEVERE PRESSURE TO CHANGE TACK AGAINST SWITZERLAND
![Vinales breaks track record](https://reseuro.magzter.com/100x125/articles/23703/1756391/PqUXzPc7-1720236962733/VINALES-BREAKS-TRACK-RECORD.jpg)
Vinales breaks track record
Spaniard Maverick Vinales (above) broke the Sachsenring track record in yesterday's practice session ahead of tomorrow's German MotoGP, while Marc Marquez suffered a heavy fall.
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Sainz admits suffering from stress
Ferrari's Carlos Sainz (right) said on Thursday that he is suffering from stress caused by the time-consuming task of finding a team for next season.
![F1 rivals still mates](https://reseuro.magzter.com/100x125/articles/23703/1756391/_s7LtIIzK1720236831910/F1-RIVALS-STILL-MATES.jpg)
F1 rivals still mates
COLLISION: VERSTAPPEN & NORRIS MAKE UP AFTER AUSTRIAN GP DRAMA
![Methodical new leader for Britain](https://reseuro.magzter.com/100x125/articles/23703/1756391/2PVogHeTQ1720236660376/METHODICAL-NEW-LEADER-FOR-BRITAIN.jpg)
Methodical new leader for Britain
He is centre-left party's most working-class leader.
![Sailing with the Cape winds](https://reseuro.magzter.com/100x125/articles/23703/1756391/DdQ99BuL91720236542665/SAILING-WITH-THE-CAPE-WINDS.jpg)
Sailing with the Cape winds
All work and no play makes Jilly a silly girl - so this Jilly is counting the sleeps to her playtime before she goes truly dilly.
![Biggest test ahead for GNU](https://reseuro.magzter.com/100x125/articles/23703/1756391/4i-soUzBk1720236456482/BIGGEST-TEST-AHEAD-FOR-GNU.jpg)
Biggest test ahead for GNU
Phew! The government of national unity (GNU) was almost stillborn.
![No holiday for Joe Biden](https://reseuro.magzter.com/100x125/articles/23703/1756391/44w3R6uG61720236375899/NO-HOLIDAY-FOR-JOE-BIDEN.jpg)
No holiday for Joe Biden
Many Democrats hungry for a replacement.
![Kinshasa's lack of public transport drives people mad](https://reseuro.magzter.com/100x125/articles/23703/1756391/0y8QulEJb1720236209933/KINSHASAS-LACK-OF-PUBLIC-TRANSPORT-DRIVES-PEOPLE-MAD.jpg)
Kinshasa's lack of public transport drives people mad
Cable car, urban rail link or ring road - Kinshasa has big plans for alleviating its traffic chaos but for now, travelling into the megacity remains a daily headache for millions of people.
!['I am God's mistake...'](https://reseuro.magzter.com/100x125/articles/23703/1756391/1kMqkuiqI1720236071478/I-AM-GODS-MISTAKE.jpg)
'I am God's mistake...'
'I no longer had the world at my feet, so I hanged myself.'