Gijima close to sale of MineRP

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.

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Gijima close to sale of MineRP