Businessman Dr Iqbal Survé denies having anything to do with increasing the valuation of AYO, as company fined millions by JSE

Durban - Businessman Iqbal Survé has responded to a report linking him to two companies being fined by the JSE, and public censures on two former company officials.

Abdul Malick Salie, the former chief investment officer at African Equity Empowerment Investments and former CFO for AYO, as well as another AYO CFO, Naahied Gamieldien, have been fined and issued public censures.

Business Report reported Naahied Gamieldien, a former chief financial officer of AYO, and Abdul Malick Salie, a former director of AEEI, the parent company of AYO, were censured and fined R250 000 by the JSE, in further findings in relation to AYO’s 2018 interim results. The JSE has already fined AYO R6.5 million on matters relating to these results.

The companies declined to comment on the matter yesterday.

However, News24 chose to link Dr Surve to the companies, in an apparent bid to tarnish his name, implying he may have been responsible for inflating AYO’s valuation prior to listing on the JSE.

Dr Surve described the News24 report as propaganda.

“I utterly refute the comment – as I did then – that I had anything to do with increasing the valuation of AYO prior to its listing in the JSE.

“Repeatedly, I make the point that although I am a very in-direct shareholder in both companies; I do not sit on their boards, I do not involve myself in the management or day to day operations of these companies.

“Why then, other than to continue to denigrate my name and reputation, does News24 and its ilk continue to beat the same old tired drum…

“Likewise with the JSE, who on the eve of results being announced, and as they did in February this year, have chosen to release public censures to continue their attack on AYO and indirectly, on Sekunjalo.

“This just reinforces my statements that we are targets of harassment and discrimination.”

IOL