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Ignored the warnings from those " highly intelligent people" ...
This is not the first time, it has already happened many many times in the past, especially on those companies that operation and assets were located outside Singapore, like the S-Chip fraud cases.
these companies did not give a damn to these " highly intelligent people" .. What if they did not comply to the listing rules written by these people? Can the SG laws apply and carry put effectively to these " foreign companies" and the people who are not in SG?
This is not the first time... Those " highly intelligent people" refused to learn from mistakes, again and again. probably because of the exchange revenue need to be taken care of. So, can we true them anymore???
This is not the first time, it has already happened many many times in the past, especially on those companies that operation and assets were located outside Singapore, like the S-Chip fraud cases.
these companies did not give a damn to these " highly intelligent people" .. What if they did not comply to the listing rules written by these people? Can the SG laws apply and carry put effectively to these " foreign companies" and the people who are not in SG?
This is not the first time... Those " highly intelligent people" refused to learn from mistakes, again and again. probably because of the exchange revenue need to be taken care of. So, can we true them anymore???
Starship ( Date: 09-May-2019 09:33) Posted:
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wow, the IPO $21mil at 26c raised went into who' s pockets?
Starship ( Date: 09-May-2019 09:33) Posted:
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Very ugly stock in the equally ugly SGX Circus Maximus....................
Ugly Humpty Dumpty sat on the Wall.
Ugly Humpty Dumpty had a great Fall.....................
Ayondo pushes ahead with sale of unit SGX RegCo launches probe
09/05/19, 12:53 am
SINGAPORE (May 8): Things aren' t going well at trading platform Ayondo. And that is an understatement.
Barely a year after its IPO, losses have mounted at the fintech firm, and its CEO and founder Robert Lempka has left in huff. Lempka has since filed a claim against the company for unpaid money.
Two other C-suite executives &ndash CFO Richard Fulton and CMO Sarah Brylewski &ndash have also left, within a span of nine months.
Meanwhile, Ayondo&rsquo s share price has collapsed, and trading in the counter remains suspended.
And now, it wants to go ahead and sell away its key operating subsidiary, Ayondo Markets Limited (AML), despite warnings from SGX RegCo that conditions including capital requirements have first to be confirmed to have been met.
As AML deals in CFDs (contracts for difference) and spread betting business activities which are regulated by the Financial Conduct Authority (FCA), the subsidiary is required to maintain a Common Equity Tier 1 (CET1) ratio.
With its ire drawn, the market regulator is now launching a deep probe on the company.
&ldquo We are greatly concerned about the turn of events at Ayondo which surfaced less than a year after its listing,&rdquo says SGX RegCo spokersperson on May 8.
&ldquo We will therefore undertake a thorough review of what transpired at IPO and after listing. Should we find any breach of the Listing Rules or other regulations, we will act, including referring the matter to the relevant statutory authorities,&rdquo the spokesperson adds.
SGX&rsquo s strong words were triggered by Ayondo&rsquo s filing late in the evening of May 7, indicating that it wants to go ahead with an agreement to sell AML, which it owns 99.9% of, to Netherlands-registered BUX Holdings for £ 5.7 million ($10.2 million). Ayondo says it will meet the required approvals.
AML and BUX have an existing relationship. AML offers its trading platform to BUX under a white label arrangement.
Before this latest episode, Ayondo had already been squarely in SGX RegCo&rsquo s sights. In a Notice of Compliance issued on Apr 16, the company was made to meet a long list of conditions before the proposed sale of AML could go ahead.
Ayondo claims that, over the past year, tighter regulations in Europe and UK, coupled with unfavourable market conditions, have caused AML&rsquo s business of providing CFD trading to deteriorate.
The company offers so-called &ldquo social trading&rdquo platforms as well. It allows clients to &ldquo follow the leader&rdquo by mimicking trades made by them.
Ayondo hopes that by selling AML, it can focus its energy on growing the social trading platforms instead. The company claims growing interest in this way of trading shares, including in Asia.
On May 2, the company reported losses of 50.2 million CHF ($67.1 million) for the year ended Dec 31, 2018 &ndash a more than four-fold surge from losses of 9.75 million CHF for FY17.
The bulk of the losses can be attributed to an impairment of 37.1 million CHF. Revenue between FY17 and FY18 was flat at 20.8 million CHF.
On Apr 26, one week before the full year earnings was announced, the company&rsquo s former CEO, Lempka, filed a claim with Singapore&rsquo s State Courts for $165,800 due as part of his termination agreement. He quit on Jan 22.
The company went public on Mar 18, 2018. It sold a total of nearly 81 million shares at 26 cents each, raising gross proceeds of $21 million.
The issue was handled by UOB Kay Hian. Pheim Asset Management was the top subscriber for the IPO shares.
Trading of Ayondo shares was suspended on Jan 30. It last traded at 4.8 cents.
As at Dec 31 2018, the company&rsquo s net asset value was negative 0.02 CHF.
https://www.theedgesingapore.com/ayondo-pushes-ahead-sale-unit-sgx-regco-launches-probe
Ayoyo has finally cracked................................
Ayondo full-year loss quintuples to 50.2m Swiss francs
THU, MAY 02, 2019 - 8:46 AM
CATALIST-listed fintech group Ayondo incurred a net loss of 50.2 million Swiss francs (S$67.2 million) for the financial year ended Dec 31, 2018, widening more than five times from a loss of 9.8 million francs a year earlier, it said on Thursday.
Ayondo had issued a profit warning on April 23, flagging a bigger net loss for FY2018 due to the impairment of certain intangible assets arising from poor financial performance.
In Thursday' s earnings statement, it said the continued losses were due to poor business performance mainly as a result of unfavourable trading conditions arising from low volatility in financial markets and the tightening measures in contract for difference (CFD) markets from European and UK regulators in 2018. Lower marketing expenditure also meant that the Group could not replace trading clients following large drawdowns, it added.
Loss per share was 0.01 franc for FY2018, compared to 0.016 franc in the previous year.
Trading revenue edged up to 20.80 million francs from 20.76 million francs a year ago.
This slight increase in revenue was despite an 8 per cent decrease in the total number of active clients to 47,298 from 51,606 in FY2017.
Average revenue per active client rose by 9 per cent to 440 francs for the full year, with increases in all segments.
Ayondo&rsquo s current liabilities exceeded its current assets by 8.26 million francs as at 31 Dec, 2018, and it was in a net liability position of 8.28 million francs as at end-2018.
Ayondo said that its unaudited results announcement for FY18 were prepared on the assumption that the group is able to continue as a going concern to the best of knowledge and belief of the directors.
The management said it is confident of successfully completing the proposed disposal of Ayondo&rsquo s 99.91 per cent-owned UK subsidiary Ayondo Markets Limited (AML) to BUX Holdings, thus significantly reducing the group&rsquo s liabilities.
On April 16, Singapore Exchange&rsquo s regulation unit instructed Ayondo to put on hold its plan to dispose of AML, pending clarity over the group&rsquo s financial situation as well as AML&rsquo s compliance with a UK authority.
Ayondo said on Thursday that it is also exploring other opportunities that could satisfy the going concern and business viability issues and will make an announcement when necessary. It cautioned shareholders against placing undue reliance on its unaudited results forFY2018.
The goodwill, capitalised software development costs and the investment in app developer MyHero were fully impaired in FY2018 due to the uncertainty surrounding the current future of Ayondo. Total impairment of asset amounted to 37.1 million francs.
The group faced working capital deficiency due to continued losses, which were a result of poor business performance.
https://www.businesstimes.com.sg/companies-markets/ayondo-full-year-loss-quintuples-to-502m-swiss-francs
This ayoyo still has not cracked into pieces?
Ayondo served writ of summons from ex-CEO over S$165,800 claim
SUN, APR 28, 2019 - 9:06 PM
CATALIST-LISTED fintech company Ayondo has been served a writ of summons and a statement of claim from its former CEO, Robert Lempka, that alleged a repudiatory breach of the termination agreement between the company and him.
This is over a sum of S$165,800 for which Mr Lempka has claimed Ayondo failed to make payment under the termination agreement.
The latest announcement, made on Sunday, follows from Ayondo' s announcement on April 17, when it said it had received a statutory demand from Mr Lempka for the company to pay this sum related to his resignation from the company. Ayondo said it was served the writ of summons on April 26.
The firm said it is seeking professional advice on the matter.
Another one bites the dust at Ayondo &ndash this time the chief marketing officer
18/03/19, 12:34 pm
SINGAPORE (Mar 18):
Ayondo&rsquo s CFO was the first to quit last July. This was followed by the resignation of its CEO in January. In its latest announcement over the weekend, it seems Ayondo&rsquo s CMO has thrown in the towel too.
In a regulatory filing on Saturday, Ayondo said Sarah Brylewski, 45, had resigned from her role as group chief marketing officer " to pursue other interests" after almost five years in the role.
According to Ayondo, the developer and operator of social trading platforms, Brylewski had earlier left Frankfurt-based Ayondo GmbH, a technology and service provider, on March 6.
Company sponsor UOB Kay Hian said it had spoken with Brylewski and " is not aware of any material reasons" for her resignation.
Brylewski would be the third C-suite executive &ndash including chief financial officer Richard Fulton and chief executive and founder Robert Lempka &ndash to have left Ayondo in the past nine months.
To recap, Ayondo on Jan 30 called for a trading halt before revealing there was a disagreement between auditors KPMG LLP and Ernst & Young LLP over how a key metric of financial strength was calculated for its 99.91%-owned UK subsidiary, Ayondo Markets Limited (AML).
As AML deals in CFDs (contracts for difference) and spread betting business activities which are regulated by the Financial Conduct Authority (FCA), the subsidiary is required to maintain a Common Equity Tier 1 (CET1) ratio.
In January, following feedback by one of Ayondo' s employees regarding the calculation of CET1 ratio, KPMG in the UK was engaged to assess the appropriate accounting and regulatory treatment of certain items related to the determination of AML' s regulatory capital position under UK' s financial reporting standards.
Bear in mind that Ayondo&rsquo s independent auditor, EY Singapore, had audited Ayondo, including subsidiary AML, during the group&rsquo s IPO in March 2018 and concluded the group' s financial statements gave a true and fair view of the state of the company' s affairs as at Dec 31, 2017.
It turned out that KPMG' s views were different from the accounting treatment process adopted by AML in the past which had been reviewed by EY. If KPMG' s views with respect to technology software expenditures and inter-company balances and transactions were adopted by AML, it would have a negative impact on AML' s CET1 ratio.
https://www.theedgesingapore.com/another-one-bites-dust-ayondo-%E2%80%93-time-chief-marketing-officer
IPO still > 20 cents....
sad stock
sad stock
Starship ( Date: 17-Mar-2019 09:44) Posted:
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This Ayoyo is wobbling...........................
Announcement Title
Change - Announcement of Cessation
Date & Time of Broadcast
16-Mar-2019 10:40:01
Description
Resignation of Executive Officer (Chief Marketing Officer) - Mrs Sarah Brylewski
Detailed Reason (s) for cessation
To pursue other interests.
In conjunction with her cessation as Chief Marketing Officer of the Group, Mrs Sarah Brylewski (" Mrs Brylewski" ) has also ceased as Managing Director of ayondo GmbH with effect from 6 March 2019.
The Company' s Sponsor, UOB Kay Hian Private Limited, having interviewed Mrs Brylewski, is not aware of any material reasons for the cessation of Mrs Brylewski as the Chief Marketing Officer of the Group.
https://links.sgx.com/1.0.0/corporate-announcements/V4ZT2H047UX405GO/8eebba86d0d007361308508e7dda02450fb647768122601637ec71628205297f
eric998 ( Date: 23-Feb-2019 18:58) Posted:
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This counter has more Red Flags than in the whole of China.........................
RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER
The Board of Directors (the &ldquo Board&rdquo ) of ayondo Ltd. (&ldquo ayondo,&rdquo the &ldquo Company&rdquo together with its subsidiaries, the &ldquo Group&rdquo ) refers to its announcement released on 23 January 2019 with regards to the resignation of the Executive Director and Chief Executive Officer (&ldquo CEO&rdquo ) of the Company, Mr Robert Lempka (&ldquo Mr Lempka&rdquo ).
Subsequent to an interview with Mr Lempka, and correspondences with Luminor (as defined below) and the Board, UOB Kay Hian Private Limited (the &ldquo Sponsor&rdquo ) noted the following:
(i) Growing discontent between the controlling shareholders, namely Luminor Pacific Fund 1 Ltd., Luminor Pacific Fund 2 Ltd. and Luminor Capital Pte. Ltd. (collectively, &ldquo Luminor&rdquo ) and Mr Lempka, over the progress of the business initiatives, the fund raising requirements of the Group and the state of affairs of the Group&rsquo s business and financial performance
(ii) Growing discontent between the Board and Mr Lempka on the future directions and fund raising options pursued by the Company and
(iii) Outstanding payment to Mr Lempka in lieu of the notice period to be given by Mr Lempka following his resignation as agreed between the Board and Mr Lempka.
Save as disclosed above, the Board confirms that there are no other matters regarding the resignation of Mr Lempka that need to be brought to the attention of shareholders of the Company and the Singapore Exchange Securities Trading Limited (&ldquo SGX-ST&rdquo ).
Save as disclosed above, the Sponsor, based on the enquiries with Mr Lempka, the Board and Luminor, is not aware of any other material reasons for the cessation of Mr Lempka as Executive Director and CEO of the Company.
Following the resignation of Mr Lempka, the Board has appointed Mr Richard Mark Street as the interim CEO of the Company.
The detailed announcement pursuant to Rule 704(6) of the Listing Manual Section B: Rules of Catalist of the SGX-ST (the &ldquo Catalist Rules&rdquo ) in relation to the aforementioned appointment has been released separately on the SGXNET on 23 January 2019.
By Order of the Board
Thomas Winkler
Non-Executive Chairman
22 February 2019
Sounds worse than Trading Halt.
They applied for Suspension
A Sinking Feeling......................
Issuer/ Manager
Ayondo Ltd.
Security
AYONDO LTD. - SG1ED1000001 - 1I5
Announcement
Title Request for Suspension
Date & Time of Broadcast
01-Feb-2019 17:21:17
Additional Text
Pending release of announcement.
Effective Date and Time of the Event
With Immediate Effect
