Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      World Bank set to back South Africa’s big energy grid roll-out

      20 June 2025

      The algorithm will sing now: why musicians should be worried about AI

      20 June 2025

      Sita hits back at critics, promises faster, automated procurement

      20 June 2025

      The transatlantic race to create the first television

      20 June 2025

      Listed: All the MVNOs in South Africa – 2025 edition

      19 June 2025
    • World

      Watch | Starship rocket explodes in setback to Musk’s Mars mission

      19 June 2025

      Trump Mobile dials into politics, profit and patriarchy

      17 June 2025

      Samsung plots health data hub to link users and doctors in real time

      17 June 2025

      Beijing’s chip champions blacklisted by Taiwan

      16 June 2025

      China is behind in AI chips – but for how much longer?

      13 June 2025
    • In-depth

      Meta bets $72-billion on AI – and investors love it

      17 June 2025

      MultiChoice may unbundle SuperSport from DStv

      12 June 2025

      Grok promised bias-free chat. Then came the edits

      2 June 2025

      Digital fortress: We go inside JB5, Teraco’s giant new AI-ready data centre

      30 May 2025

      Sam Altman and Jony Ive’s big bet to out-Apple Apple

      22 May 2025
    • TCS

      TCS+ | AfriGIS’s Helen Hulett on how tech can help resolve South Africa’s water crisis

      18 June 2025

      TechCentral Nexus S0E2: South Africa’s digital battlefield

      16 June 2025

      TechCentral Nexus S0E1: Starlink, BEE and a new leader at Vodacom

      8 June 2025

      TCS+ | The future of mobile money, with MTN’s Kagiso Mothibi

      6 June 2025

      TCS+ | AI is more than hype: Workday execs unpack real human impact

      4 June 2025
    • Opinion

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025

      Singapore soared – why can’t we? Lessons South Africa refuses to learn

      13 June 2025

      Beyond the box: why IT distribution depends on real partnerships

      2 June 2025

      South Africa’s next crisis? Being offline in an AI-driven world

      2 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » Gijima fails to publish results

    Gijima fails to publish results

    By Duncan McLeod16 April 2015
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp
    Robert Gumede
    Robert Gumede

    Technology group Gijima, which plans to delist from the Johannesburg Stock Exchange (JSE) soon, is in trouble with the bourse after failing to submit its interim report within the three-month period stipulated in the listing requirements.

    In February, Gijima said its chairman Robert Gumede’s Yebo Guma Investments had made an offer to buy out minority shareholders in the IT group, paving the way for a delisting. The deal was approved by shareholders in early April.

    The offer by Guma to buy out the minorities was seen as inevitable after a rights offer, which took place in December, saw Gumede-controlled entities increase their stake in Gijima from 46,7% to 88,4%, leaving a small free float of 11,6%.

    Gijima minority shareholders were offered R2,20/share in cash, a premium of 47% on the company’s closing share price before the offer was made public. It was a 31% premium to the volume weighted average price of R1,68/share over the prior 30 days.

    “Given the small remaining free float and the current status of the company’s turnaround, which is ongoing, Guma believes it is in the best interests of the company to be held 100% by the Guma entities and to delist, thereby enabling it to complete the turnaround in an unlisted environment,” Gijima said at the time the Yebo Guma offer was announced.

    It is not clear if Gijima intends publishing its interim results for the six months ended December 2014 before it is delisted. TechCentral has asked the group for comment and will update this article once this information is received.

    The JSE warned that Gijima’s listing is under threat of suspension and possible termination for the contravention of the listing rules.

    “Should the company fail to submit its interim report by 30 April 2015, its listing will be suspended,” the JSE said.

    Gijima refused to answer a direct question from TechCentral about whether it intends publishing its interim results through the JSE. “As we have advised, we are still in a closed period. However, post the delisting, Gijima will continue to keep its stakeholders abreast of the company’s solid and satisfactory turnaround progress, including the required salient supporting financial data,” said a group spokesman.  — © 2015 NewsCentral Media



    Gijima JSE Robert Gumede Yebo Guma Investments
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleFNB gets into the generator business
    Next Article Wits researchers in light breakthrough

    Related Posts

    Naspers helps boost JSE to record high

    30 May 2025

    Mustek acquisition drama

    26 February 2025

    JSE-listed Altvest to set up bitcoin treasury

    21 February 2025
    Company News

    Making IT happen: how Trade Link gears up to enable SA retail strategies

    20 June 2025

    Why parents choose CambriLearn for online education

    19 June 2025

    Disrupt first, ask questions later – the uncomfortable truth about incident response

    18 June 2025
    Opinion

    South Africa pioneered drone laws a decade ago – now it must catch up

    17 June 2025

    AI and the future of ICT distribution

    16 June 2025

    Singapore soared – why can’t we? Lessons South Africa refuses to learn

    13 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.