The JSE has hit EOH with a R7.5 million fine, for releasing results which had errors in them. According to the JSE, results statements from the technology group for 2017 and 2018 had understated losses. R2.5 million of the fine has been conditionally suspended for five years, partly due to EOH’s full co-operation during the investigation. Megan Pydigadu, Group CFO of EOH joins CNBC Africa for more.
Technology group EOH narrowed its first half loss per share from continuing operations, while group revenue fell 14 per cent and costs rose. EOH CFO, Megan Pydigadu joins CNBC Africa for more.
EOH has suspended payments to and blacklisted 50 enterprise development business partners implicated in suspect payments running into millions of rands. The IT Company said in its annual results. Some of these partners have initiated legal challenges against EOH, which it plans to defend. EOH’s Chief Financial Director, Megan Pydigadu joins CNBC Africa for more.
In the last 48 hours three key resignations have rocked the EOH boardroom. Zunaid Mayet the CEO of EOH subsidiary Nextec, Rob Godlonton the CEO of the company’s ICT business and Pumeza Bam a non-executive director. Add to this a forensic probe released in the last 24 hours by a group called ENS Afrcia. Joining CNBC Africa for more is Stephen van Coller, CEO, EOH.
EOH plans to sell a 70 per cent stake in its subsidiary EOH Mthombo to German listed company RIB’s subsidiary RIB Software SE for R444 million. According to its statement EOH’s remaining 30 per cent holding of CCS will add to the company’s growth trajectory Joining CNBC Africa for more is Megan Pydigadu, CFO, EOH.
Technology company EOH is due to receive its report into public sector contracts from law firm ENS today. CEO Stephen van Coller initiated the investigation in 2018 after taking over from founder and former CEO Asher Bohbot. CNBC Africa spoke to him at the company’s annual results presentation and this is what he said about the investigation.
12Page 1 of 2