Trading Statement for the Six Months Ended 28 February 2021
Trading Statement for the Six Months Ended 28 February 2021 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”) TRADING STATEMENT FOR THE SIX MONTHS ENDED 28 FEBRUARY 2021 In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE Limited, a company is required to publish a trading statement as soon as it becomes aware that the financial results for the financial period to be reported on next will vary by 20% or more from those of the previous corresponding period. Accordingly, shareholders are hereby advised that a reasonable degree of certainty exists for the six months ended 28 February 2021 that: - the Group expects to report a basic loss per share of between 29.22 and 31.00 cents, representing a decrease of between 181.8% and 186.8% compared to basic earnings per share (“EPS”) of 35.70 cents reported for the six months ended 29 February 2020; and - the Group expects to report a headline loss per share of between 24.19 and 25.99 cents, representing a decrease of between 167.6% and 172.6%, compared to headline earnings per share (“HEPS”) of 35.81 cents reported for the six months ended 29 February 2020. The decrease in EPS and HEPS compared to the prior period is primarily as a result of a decrease in revenue earned by the Group for the six months ended 28 February 2021. The decrease in revenue can mainly be ascribed to a decline in the overall economic environment due to Covid-19; the non- renewal of significant contracts, as well as a decrease in the interest income earned by the Group as a result of the decline in the prime lending rate as compared to the prior period. The financial information on which this trading statement is based has not been reviewed or reported on by AYO’s auditors. The Group is in the process of finalising its financial results for the six months ended 28 February 2021, which are scheduled to be released on SENS on or about 25 May 2021. 24 May 2021 Joint Sponsor Vunani Sponsors Joint Sponsor Merchantec Capital Date: 24-05-2021 10:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.