BRIEF-Ayo Says Not Applied To S. Africa Reserve Bank To Transfer Funds Off-Shore

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  • Stock Market News
BRIEF-Ayo Says Not Applied To S. Africa Reserve Bank To Transfer Funds Off-Shore

Oct 16 (Reuters) - Ayo Technology Solutions Ltd AYOJ.J :

* SHAREHOLDERS REFERRED TO COMMENTS BY PIC THAT IT IS CONSIDERING COURT ACTION TO PREVENT CO FROM "ALLEGEDLY TRANSFERRING FUNDS OFF-SHORE"

* SAYS PIC'S ALLEGATIONS "ARE WITHOUT MERIT"

* HAS NOT MADE APPLICATION TO SOUTH AFRICAN RESERVE BANK TO TRANSFER FUNDS OFF-SHORE NOR DOES IT INTEND TO DO SO

* SENT LETTER TO PIC WHICH INCLUDED DETAILS OF VARIOUS ACCOUNTS, ACCOUNT NUMBERS IN WHICH CO'S FUNDS ARE HELD AT SOUTH AFRICAN BANKERS

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