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IOL News
5 days ago
- Business
- IOL News
AYO Technology Solutions: share repurchase agreement was executive in good faith
AYO Technology Solutions has affirmed its support for the JSE's ongoing commitment to market transparency and investor confidence,' Image: Armand Hough / Independent Newspapers. AYO Technology Solutions said Thursday that a share repurchase agreement with the Public Investment Corporation (PIC) in 2023 was executed based on advice from advisors at the time and was made in good faith and in alignment with the legal guidance provided. 'AYO acknowledges the JSE's decision to issue a public censure and to suspend the application of a fine for five years and affirms its support for the JSE's ongoing commitment to market transparency and investor confidence,' the company said. AYO stated that the period surrounding the PIC settlement was marked by a wave of media scrutiny and speculative reporting, much of which misrepresented the intent and content of the agreement. 'AYO remains committed to correcting the narrative by continuing to act in the best interests of its shareholders and in compliance with the regulatory framework that governs its operations. AYO has co-operated fully with the JSE throughout this process and takes its obligations under the Listings Requirements seriously,' the company said in a statement. AYO had been trading under cautionary from 6 March 2023 due to legal proceedings between the company, the PIC, and its main client, the Government Employees Pension Fund (GEPF). On 24 March, AYO announced that legal proceedings between it, the PIC, and the Government Employees Pension Fund (GEPF) had ceased following an amicable settlement agreement between them. The terms of the agreement were not disclosed in this announcement, as the parties in the dispute had cited the terms as 'confidential.' The next day, the terms were published in the media that AYO had agreed to repurchase shares from the GEPF for around R600 million; there was a further repurchase option granted to the GEPF, while certain minority protections were afforded to the GEPF. The JSE then stated that the terms of the repurchase needed to be published. On 4 April, the JSE directed AYO to publish a further supplementary SENS announcement, which was done on 18 May, with all the required information. BUSINESS REPORT Visit:
News24
07-05-2025
- Business
- News24
Powerhouse CEO Fikile Mbhokota shares how motherhood reshaped her money mindset
Fikile Mbhokota has 20 years' experience in finance and is the CEO of Satrix. Growing up disadvantaged taught Fikile to be laser focused on financial education for her kids. As a PhD student, runner and mom of two, Fikile shares how important it is to prioritise your identity. ________________________________________________________________________ Fikile Mbhokota has spent more than 20 years leading the charge in the financial markets and investment industry. Not only is she the current CEO of the financial institution Satrix, Fikile has held the positions of Acting Head of Investments and trustee at the Government Employees Pension Fund (GEPF), Africa's largest pension fund, all while completing a PhD. On top of all of that, Fikile is a mom to a seven and 10 year old as well as an avid runner, proving to herself and those who look up to her that every dream is achievable. 'I believe in the process: just start stay consistent and give it time,' she explains when it comes to balancing the demands of the day with planning for her children's future. Leaving a legacy Becoming a mother shifts what matters to you most, and with Fikile, having children made it clear that wealth building and leaving a legacy for her family starts at home. She says, 'Being a mom changes everything. You want to do better, not just for yourself, but for them. I became more determined to improve on what previous generations couldn't, simply because they didn't have the opportunities at the time. My grandparents didn't finish school. My parents' generation fared better; many were teachers or public servants. 'I was fortunate to study what I wanted, but I started with nothing. My father did his best, and I'm grateful for that. But now, I want my children to have a head start – whether that's a car or flat when they need it or the option to study abroad and to create generational wealth for them.' @nicolettemashile CEO of Satrix Fikile Mbhokota explains the difference between investing in Infividual stocks vs ETFs ans the benefits #ownthemarket @Glamour South Africa ♬ original sound - Nicolette Mashile Fikile reflects that 'Motherhood made me laser-focused on using my opportunities to create something better for the next generation and the generation after that.' Start small and keep it simple Starting your own investing journey and paving the path for generational wealth and financial freedom can seem daunting with no clear insight into where to begin. Your choices need to be practical and simple enough to stick to. I feel like sometimes we tend to complicate things or want quick results – such as wanting wealth fast and wanting to see impact immediately. But it doesn't work like that. It's about consistently making an effort each day, putting in the hours and doing something small, and trusting that over time, it pays off. Fikile Mbhokota Fikile gives some advice for moms who might be feeling overwhelmed about their own saving and investing journey. 'When you get overwhelmed, you risk doing nothing at all – so just start. If you didn't grow up in a family that invested, you may not truly understand the power of compound returns until you experience it for yourself. But once you begin, you'll see the benefits, and that will motivate you to stay the course. 'Try to learn a little about investing every day; take 30 minutes to read, research, listen to a podcast, or chat with an adviser. Those small, consistent efforts will add up over time. Trust the process. Once you see the results, you'll find more focus, greater clarity, and real conviction.' Embracing every facet of her identity While raising financially educated children is a job all on its own, Fikile is adamant about expressing her personal identity with small efforts every day. 'For me, it starts with knowing what's important – my kids, my work, staying physically and mentally healthy, the things that matter to me,' Fikile shares. 'I don't look at what others are doing; I focus on what fulfils me, so I can keep doing these things with conviction, without getting bored or uninspired. I stay in tune with who I am and my purpose – that makes even the boring tasks more fulfilling. They're my tasks, my goals, my choices, my commitments. 'I always ask myself, 'I've got 24 hours – how do I optimise them?' Whether it's a morning run or inspiring chats with my kids during school drop-off, I structure my day around my priorities. Never underestimate what you can do with 24 hours. Every small action compounds. One day, you'll look back and realise you've accomplished something beautiful from those small, consistent efforts.'
