Gijima sets JSE delisting date
ICT group Gijima has set the date for its planned delisting from the JSE: 2 May 2015.
Gijima first announced its intention to voluntarily delist from the JSE on the 17th of February, following the implementation of the buy-out of the minority shareholders by a company controlled by its founder and executive chairman, RM Gumede of Guma Group.
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 on 2 April 2015.
“The company is therefore in the midst of the de-listing process, the conclusion of which will be the 2nd week of May 2015,” the company announced in a statement.
The minority shareholders who hold approximately 11% of the company will then receive the R2.20 per share.
“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,” Gijima said.
On Thursday (16 April), the JSE said that Gijima had failed to submit its interim report within the three month period stipulated in its listings requirements, and was thus under threat of suspension and possible termination from the exchange.
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