Cape Town - Western Cape High Court judge, Ashley Binns-Ward has set aside the Public Investment Corporation’s (PIC) request to subpoena all communications Sekunjalo Investment Holdings and 3 Laws Capital had with JSE-listed AYO Technology Solutions (AYO).
In a brief order delivered before the main case featuring the PIC and AYO began, the judge said that the application by the PIC was set aside and costs to be paid jointly and severally by the PIC and GEPF as first and second respondents.
The application to have the subpoena request dismissed was made on Tuesday by Senior Counsel Anton Katz on behalf of Sekunjalo Investment Holdings and 3 Laws Capital about a subpoena issued to them by the PIC, requesting all communications the two entities had with AYO.
Making the application, Katz had argued that the application should be set aside as it was too broad and thin on specificity, while Senior Counsel Vincent Maleka defended the application on the PIC’s behalf.
Present to hear the decision was Ayo Technology Solutions chairperson Dr Wallace Mgoqi.
The main case continues.