The JSE says it will oppose Ayo Technology’s application to the Financial Services Tribunal to have its decision to impose a R1.5 million fine and public censure on the company reconsidered. The bourse made the announcement to shareholders on Thursday via Sens. The disciplinary measure comes after the JSE found the technology investment company to be in breach of its listing requirements.
Read: Former Ayo exec, AEEI director handed JSE censure and R250K fine Market reaction Ayo’s share price tanked by over 20% in early morning trade on Thursday, following the JSE’s update, leaving the stock price hovering at R2.40. Suspension application fails When filing its reconsideration application with the tribunal on 9 December, Ayo also submitted an application for the JSE’s punishment to be suspended as it awaits the tribunal’s decision.
Ey man, I know the CEO listened to that Timbo joint before naming the company 😆
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