CAPE TOWN - The JSE Market Regulation Division found no evidence of irregularities in the share trading of AYO Technology Solutions that resulted in a significant increase in the price last week, JSE director of Market Regulation Shaun Davies said yesterday.
The JSE Market Regulation Division completed a review of the trading in AYO shares that saw the price rise up to 400 percent to R30 on January 11.
The price remained at high levels on low trading volumes until January 14, after which it reverted to previous levels.
AYO chief executive Howard Plaatjes said AYO was pleased with the swift action taken by the JSE’s market regulation division. The outcome verified that there were no irregularities in the trading, and hence no need to take further action.
“The increased interest in AYO is encouraging and reinforces our commitment to focus on growing earnings and delivering value to our stakeholders,” said Plaatjes.
The share price stood at R7.26 late yesterday afternoon.