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Non-Executive Chairman
AYO Technology Solutions Umited
7 August 2018
Dear Sir,
CONFIRMATION OF CONCKRNS TABLED AT THE MEETING OF 27 JULY AND 1 AUGUST Z018 AT THE
VINEYARD HOTEL AND INL OFFICES, CAPE TOWN
As the Executive Directors of AYO Technology Solutions Limited ("AYO"), we wish tothank you for having
taken the time to see us on these occasions and we have since taken the opportunity to discuss our approach
as an executive team and in the interests of absolute clarity, we have decided to formally document the
concerns we had raised with you during the above meetings and in the many verbal discussions prior
[the "Meetings" ).
It is important to highlight at the outset, as we made clear in the meetings, that our unambiguous position
is that we will find it diNcult to continue to execute our respective executive roles and our directorships in
the company unless the concerns raised below are appropriately dealt with as a matter of urgency during
the month of August.
It is also crucial to note that the we have remained completely committed to the vision of building the largest
black owned ICT business on the JSE. Numerous achievements must be noted, including the awarding of the
Sasolcontract and a very successful transition project including the transfer of BT staff.Building the story
around the AYO Ecosystem, New office setup, attracting significant acquisition pipeline, key talent
acquisition, implementing company-wide policies and procedures, PR and marketing activities and much /
more. As an executive team we remain extremely passionate and determined about the real purpose of the.
business which Is to transform the ICT industry from a technology and people perspective.
REG NO 199$1054465/06
CHANMAN SYOUNG OKIECTORS:KAW HARDY,N GAMIEEDIEN 5 NODWElE
WG MADEONGA. KARDUIEA.CP HENDIKCKSA9 AMOO TM NTSASAAtf KHOZA
COMPANYSECRETARY N MRAUSEU
attempts to gain visibility on statements of the account have failed to date which has given
us much consternation).
We are deeply concerned and emphasize that we have limited control and autonomy over the activities in
the company as a result of the group structure and in particular AEEI interference. As executive directors, we
are ultimately legally liable for anything that goes wrong in the company and we all carry significant personal
AYO TECHNOLOGYSOLUTIONSUMIYKD
/FOIIMERLY:SKA'VN/ALO TECHNOLOGYSOLUFIONSLIAIITK
RKG. NO:1996/DAMM/KS
CHAIRMAN S YOUNG DIRECTORSIXAW HANDY/I GAA|XKLDIKN. S NODWELE
WG MADKONGA. KARDULLACFHKNKXNCXSAR AMOR.TM NASA.NN RHOMBI
COMPANY SKRETAAY: N MKALISL'I
As discussed in the meetings, it must be noted that we are no longer able to execute on our responsibilities
as directors under these conditions and should we not be satisfied with the progress on the above concerns,
and that these issues are adequately addressed, then we will be considering the few options that remain
available to us before the end of August 2018.
Yours faithfully,
AYO TKCHNOLOGYSOLUTIONSOMITS D
/FORMERLY:SKXUNJAIO TKCNNOLOGI'SOLUTIONSISLUTKO/
RKG. NO.'1996/014443/0S
CHAIRMAN' S YOUNG OIRKCTIRG: XAW HARDYZI GAMIKLOIKN S NODWKLK
WG MADZONGA. X ABOULLA.CTHKNNUCXSAB AMOD.TM NTSASA Mf XHOZA
COMPANY SKCR START' N M BALGKLI