Shareholders in financially troubled technology services company Gijima have given the green light to its proposed rights offer, in which it’s raising R150m “to ensure compliance with all its funding covenants” and to finance its working capital requirements. Gijima announced the rights offer at the
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Troubled IT company Gijima’s share price tumbled to as low as 7c on 2 April following an unexpected R123m loss as well as a proposed rights offer for a R150m cash injection. The loss is the most recent in a string of challenges faced by the company, which appeared to begin in 2010 with the cancellation of a R2,1bn contract with the home affairs department
Troubled JSE-listed technology services company Gijima’s share price was hammered lower on Tuesday, falling by more than 50% in intraday trading, after it revealed it was being forced to do a huge rights offer to raise cash to stave off financial disaster. But interim
It’s not going to be a good Easter weekend for the thousands employees of JSE-listed services group Gijima, which announced shortly before markets closed on Thursday that it was embarking on a rights offer in an effort to avert financial disaster. The company, which is chaired
It’s been a good year for most technology stocks listed on the JSE. One notable exception is Gijima, whose share price has tumbled by more than two-thirds in the past 12 months as investors fret about the company’s future. It’s lost nearly half its value since it published its annual results in
Despite the gloomy economic conditions in SA and worldwide, most JSE-listed technology companies have had a whirlwind 12 months, with some share prices up by more than 50%. An investment in a selection of the country’s top technology stocks would have returned a windfall over the past
Gijima has appointed Eileen Wilton as its interim CEO. This comes after Jonas Bogoshi announced he would step down at the end of the year. Wilton will work alongside Bogoshi until the end of December. Bogoshi has led the company for the past five years. He announced his intention
Jonas Bogoshi, CEO of JSE-listed technology group Gijima, will step down at the end of the year after five years in the job. In a statement to shareholders, the group’s board says there will be a formal handover period of three months to a new CEO. It has
The share price of JSE-listed technology group Gijima soared by more than 12% on Wednesday morning after it told shareholders it was in talks to dispose of its mining and consulting businesses, housed under the MineRP division, to a consortium led by RMB Private Equity subsidiary RMB Corvest
JSE-listed IT services company Gijima has warned it’s going to have to cut jobs to reduce its payroll costs by between 8% and 12%. As part of what it calls an “internal people optimisation strategy”, Gijima plans to “streamline” its operations and restructure its