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Short-Form Announcement: Provisional Reviewed Results for the Year Ended 31 August 2021 and Dividend Declaration

Published: 2021-11-30 05:30:00 ET

AYO Tech Solutions (JSE:AYO) News - Short-Form Announcement: Provisional Reviewed Results for the Year Ended 31 August 2021 and Dividend Declaration

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

SHORT-FORM ANNOUNCEMENT: PROVISIONAL REVIEWED RESULTS FOR THE YEAR ENDED
31 AUGUST 2021 AND DIVIDEND DECLARATION

1. Highlights

   •   Revenue decreased by 41% from R2.89 billion in the prior financial year to R1.7 billion in the
       current financial year.
   •   Profit before tax decreased from a profit of R104 million in the prior financial year to a loss
       before tax of R201 million in the current financial year.
   •   Earnings per share have decreased from an earnings per share of 6.20 cents in the prior
       financial year to a loss per share of 75.31 cents in the current financial year.
   •   Headline earnings per share have decreased from an earnings per share 8.02 cents in the prior
       financial year to a loss per share of 64.37 cents in the current financial year
   •   Final dividend per share has decreased from a dividend per share of 65 cents per share in the
       prior financial year to a dividend per share of 30 cents in the current financial year. Total
       dividends per share (inclusive of the interim dividend) decreased from 100 cents in the prior
       financial year to total dividends per share of 95 cents in the current financial year.

2. 2021 Preliminary 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 2021 (“2021
   Provisional results”) has been released on SENS and is available for viewing at:

   https://ayotsl.com/investor-centre/2021-2/ and
   https://senspdf.jse.co.za/documents/2021/jse/isse/ayoe/SENSLF.pdf

   Copies of the full announcement in respect of the 2021 reviewed Provisional results may also be
   requested, at no charge, during office hours from the Company secretary at
   wazeer.moosa@ayotsl.com and either of the joint sponsors, being Vunani Sponsors at
   sponsor@vunanicapital.co.za or Merchantec Capital at sponsorteam@merchantec.co.za. Given
   the current Covid-19 pandemic, these will be sent electronically upon request.

   This short-form announcement is the responsibility of the board of directors of AYO (“Board”).
   This announcement is a summary of the information contained 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 for viewing on the Company's website.

                                                                                             
3. Declaration of final ordinary dividend

   Notice is hereby given that a gross final dividend of 30 cents per share has been declared by the
   Board out of income reserves in respect of ordinary shares of no-par value for the year ended
   31 August 2021.

   A dividend withholding tax of 20%, or 6 cents per share, will be applicable, resulting in a net
   dividend of 24 cents per share, unless the shareholder concerned is exempt from paying dividend
   withholding tax.

   The issued share capital at the declaration date is 344 123 944 ordinary shares.

   The Company’s income tax number is 9389007031.

   The salient dates of the dividend distribution are as follows:
   Gross dividend (cents per share)                                                            30
   Dividend net of dividend withholding tax (cents per share)                                  24
   Announcement date                                                   Tuesday, 30 November 2021
   Last day to trade cum dividend                                      Tuesday, 21 December 2021
   Trading ex-dividend commences                                     Wednesday, 22 December 2021
   Record date                                                           Friday, 24 December 2021
   Date of payment                                                     Tuesday, 28 December 2021

   Share certificates may not be dematerialised between Wednesday, 22 December 2021 and Friday,
   24 December 2021, both days inclusive.


Cape Town
29 November 2021

Joint Sponsor
Vunani Sponsors

Joint Sponsor
Merchantec Capital




                                                                                           

Date: 30-11-2021 07:30:00
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329 South Oyster Bay Road #2085
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team@eninvs.com

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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.