Attention is turning to troubled IT services company Gijima as it prepares to report its results to the year ended 30 June 2013 in the next few weeks.
Investors will be looking for signs that the company, which is without a permanent CEO or chief financial officer, has begun to be stabilised following the recent completion of a rights offer to raise R150m meant to stave off financial collapse.
The company has had a tumultuous year, with CEO Jonas Bogoshi stepping down late last year after five years in the role. Chief operating officer Eileen Wilton was appointed as interim CEO. A permanent candidate for the post must still be named.
Then, in July, Gijima lost its long-serving chief financial officer, Carlos Ferreira, who quit after eight years in the post. Liesl Tweedie is serving as acting chief financial officer and director in Ferreira’s place.
Chairman Robert Gumede tells TechCentral that the search for suitable replacements for Bogoshi and Ferreira is continuing.
Gumede says the company will release its annual results next month and won’t be drawn on progress at the company since the rights issue because it is trading in a closed period. “We don’t want to fall foul of the rules or prejudice other people who have an interest in the company.”
Gijima closed down 7,5% at 86c/share on Thursday. The counter has shed almost 90% of its value in the past year. — (c) 2013 NewsCentral Media
