{"id":40516,"date":"2013-06-24T10:30:52","date_gmt":"2013-06-24T08:30:52","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=40516"},"modified":"2013-06-24T10:48:27","modified_gmt":"2013-06-24T08:48:27","slug":"gijima-rights-offer-results","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/40516\/gijima-rights-offer-results\/","title":{"rendered":"Gijima rights offer results"},"content":{"rendered":"

Troubled ICT firm, Gijima<\/a> has released the results of its\u00a0rights offer on Monday (24 June), showing that it was 81.9% subscribed for.<\/p>\n

Gijima had hoped to raise R150 million in new equity capital by way of a rights offer of three billion new Gijima ordinary shares at a subscription price of 5 cents per share.<\/p>\n

The listed tech player said in March that it aimed to re-capitalise the company, to ensure compliance with all of its funding covenants under the securitisation and to finance its working capital requirements.<\/p>\n

On Monday, Gijima said that 2 457 387\u00a0632 shares had been subscribed for, representing 81.9%, while 17.5% or 525 708\u00a0617 rights offer shares would be allocated to the underwriters.<\/p>\n

Excess rights offer shares applied for and allocated amounted to 0.6% or 16.9 million.<\/p>\n

The Rights Offer was underwritten by Guma Tech, Guma Support, Guma Investment Holdings, Guma Tech Group and Futuregrowth Asset Management<\/p>\n

Gijima said in April that it would make \u201cminor retrenchments\u201d by reducing its current headcount of 2,500 by\u00a0around 250, or 10%.<\/p>\n

This followed yet another set of disappointing results for the six months ended December 2012, in which Gijima reported a 23% decline in revenue from continuing operations.<\/p>\n

Revenue from continuing operations was R911 million, down from R1.1 billion in 2011, and the operating loss from continuing operations was R123 million, after a R33 million operating profit in 2012.<\/p>\n

This translated into a loss in headline earnings per share from continuing operations of 11.12 cents, compared with positive earnings of 1.47 cents in 2011.<\/p>\n

More on Gijima<\/h3>\n

Gijima to cut staff count by 10%<\/strong><\/a><\/p>\n

Gijima value obliterated in morning trade<\/strong><\/a><\/p>\n

Gijima delays interims again<\/strong><\/a><\/p>\n

Gijima in the red<\/strong><\/a><\/p>\n

Gijima is in a hole: analyst<\/strong><\/a><\/p>\n

Gijima still mired in red<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Troubled ICT firm, Gijima has released the results of its rights offer on Monday, showing that it was 81.9% subscribed for.<\/p>\n","protected":false},"author":10,"featured_media":20297,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[641,26,6137],"class_list":["post-40516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-gijima","tag-headline","tag-rights-offer"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=40516"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40516\/revisions"}],"predecessor-version":[{"id":40522,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40516\/revisions\/40522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/20297"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=40516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=40516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=40516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}