According to a press statement, JSE-listed South African information and communication technology (ICT) company Gijima announced on the 17th of February its intention to voluntarily delist from the JSE following the implementation of the buy-out of the minority shareholders by a company controlled by its founder and Executive Chairman Mr R M Gumede of Guma Group.
According to the statement, the shareholders of Gijima voted in favour (99.38%) of resolutions on the buy-out of minorities and subsequent delisting from the JSE at a general meeting held in April 2015.
The company is therefore in the midst of the delisting process, the conclusion of which will be the 2nd week of May 2015. The minority shareholders who hold approximately 11% of the company will then receive the R2.20 per share.
Gijima reiterates that it will remain committed to high standards of good corporate governance and transparency in financial reporting post the delisting to its stakeholders, including clients. As soon as we are out of a closed period post the delisting, we will continue to keep our stakeholders abreast of our solid and satisfactory turnaround progress, and the required salient supporting financial data. Guma as the 100% shareholder has committed to continue to provide both operational and financial support to Gijima as we continue with our successful turnaround and growth.
The board and Guma thanked Gijima shareholders who voted overwhelmingly in support of the recent successful R100m rights offer and the successful buyout of the minorities. The future indeed looks bright for the only 100% BBEEE IT services company of its size and in particular for our clients and our over 2600 multiracial staff members of Gijima.
Staff Writer
