Enhanced Investments - Financial Portal

Reviewed condensed consolidated financial results for the year ended 31 Aug 2022, cash dividend declaration

Published: 2022-11-30 11:17:27 ET

 AYO TECHNOLOGY SOLUTIONS LIMITED
 (Incorporated in the Republic of South Africa)
 Registration number: 1996/014461/06
 JSE share code: AYO
 ISIN: ZAE000252441
 (“AYO Technology” or “the Company”)


SHORT-FORM ANNOUNCEMENT: REVIEWED CONDENSED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR
ENDED 31 AUGUST 2022 AND CASH DIVIDEND DECLARATION

   1.   Highlights

   •    Revenue increased by 3% to R1.8 billion from R1.7 billion in the prior financial period.
   •    Loss before tax increased by 16% from R201 million in the prior financial period to R233 million in the
        current financial period.
   •    Loss per share increased by 4% from 75.31 cents per share in the prior financial period to 78.60 cents
        per share in the current financial period.
   •    Headline loss per share per share decreased by 10% from 64.37 cents per share (restated to 67.14
        cents per share) in the prior financial period to 60.25 cents per share in the current financial period.
   •    Gross dividend per share increased by 100% from 30 cents in the prior period to 60 cents in the current
        financial period.

   2.   2022 reviewed provisional condensed results

   The Company wishes to inform shareholders that the full announcement in respect of the reviewed
   provisional condensed financial results for the year ended 31 August 2022 (“2022 results”) are available at
   https://ayotsl.com/investor-centre/2022-2/         and       can      also      be        viewed         at
   https://senspdf.jse.co.za/documents/2022/jse/isse/ayoe/SENSLF.pdf.


   Copies of the 2022 results           may also be requested from the Company Secretary at
   wazeer.moosa@ayotsl.com and from either of the joint sponsors, being Vunani Sponsors or Merchantec
   Capital, at sponsor@vunanicapital.co.za or sponsorteam@merchantec.co.za respectively.

   The 2022 results have been reviewed by Crowe JHB. and Thawt Inc. who express an unmodified review
   conclusion thereon. The full independent auditors’ report is available on the Company’s website at
   https://ayotsl.com/investor-centre/2022-2/ and can also be requested from the Company Secretary at
   wazeer.moosa@ayotsl.com


   This short-form announcement is the responsibility of the board of directors of AYO (“Board”). This
   announcement is a summary of the information in the full announcement and does not contain full or
   complete details. Any investment decision by investors and/or shareholders should be based on
   consideration of the full announcement which has been released on SENS and is available on the Company's
   website.




                                                                                                       Page 1 of 2
    3.   Declaration of ordinary dividend

    Notice is hereby given that a gross final dividend of 60 cents per share has been declared by the Board in
    respect of ordinary shares of no-par value for the year ended 31 August 2022.

    A dividend withhold tax of 20% or 12 cents per share will be applicable, resulting in a net dividend of 48
    cents per share unless the shareholder concerned is exempt from paying dividend withholding tax.

    The number of ordinary shares in issue at declaration date is 344 123 944, which includes 804 904 treasury
    shares.

    The Company’s income tax number is 9389007031.

    The salient dates of the dividend distribution are as follows:
    • Gross dividend (cents per share)                                                          60
    • Dividend net of dividend withholding tax (cents per share)                                48
    • Announcement date                                                       Wednesday,      30 November
        2022
    • Last day to trade cum dividend                                          Tuesday, 20 December 2022
    • Trading ex-dividend commences                                           Wednesday,21 December 2022
    • Record date                                                             Friday, 23 December 2022
    • Date of payment                                                         Tuesday, 27 December 2022

Share certificates may not be dematerialised or rematerialised between 21 December 2022 and, 23 December
2022, both days inclusive.

Cape Town
30 November 2022

Joint Sponsor
Vunani Sponsors

Joint Sponsor
Merchantec Capital




                                                                                                     Page 2 of 2

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.