ICT services company Gijima says it is in the process of finalising the terms of agreements relating to the disposal of its mining technology and consulting businesses, MineRP, to a consortium led by RMB Corvest, a subsidiary of RMB Private Equity.
It follows a number of cautionary announcements that started in April.
According to Gijima, MineRP would be housed in a newly-incorporated entity, Oakleaf Investment Holdings 89, while the agreements will be subject to conditions precedent, including the approval of the competition authorities.
“The board has identified MineRP as non-core and, as MineRP requires considerable investment to maintain its competitive position, has resolved to dispose thereof in order to preserve MineRP´s value and realise maximum value for shareholders,” Gijima said in a statement on Wednesday (5 September).
Gijima again advised shareholders to continue exercising caution when dealing in the group’s shares until a further announcement is made.
Gijima is scheduled to publish its annual results on 26th September 2012.