Update on voluntary delisting

 

Gijima Group Limited

(Registration number 1998/021790/06)                                   

Incorporated in the Republic of South Africa

Share code: GIJ ISIN: ZAE000198826

(“Gijima”)

 

Update TO IMPLEMENTATION OF SCHEME OF ARRANGEMENT AND completion of delisting

 

The shareholders of Gijima ("Gijima Shareholders") are reminded that on 2 April 2015, resolutions allowing for Yebo Guma Investments Proprietary Limited (“Guma), Mr Robert Gumede’s company, to acquire all of the remaining ordinary shares in Gijima, were duly approved by 99.38% of the votes. To date, no objections have been received. On 22  April 2015 an announcement will be made regarding the fulfilment of the conditions precedent to the scheme of arrangement, and assuming that all conditions precedent will be fulfilled by such date, the dates relating to the delisting will be announced. It is expected that the last day to trade in Gijima shares will therefore be 30 April 2015, with the listing of the shares in Gijima being suspended on the next business day being, 4 May 2015, and terminated on 12 May 2015, in accordance with the JSE Limited's normal timetable for the implementation of a scheme of arrangement.  The operative date of the scheme of arrangement is expected to be 11 May 2015 whereby the minority shareholders will receive 220 cents per share. After the delisting, Gijima will continue to trade as a private unlisted company.

 

 

Johannesburg

17 April 2015

 

Corporate advisor and transaction sponsor

PricewaterhouseCoopers Corporate Finance Proprietary Limited

 

Legal advisor to Gijima

Webber Wentzel

 

Legal advisor to Guma

Brian Kahn Inc

 

Corporate advisor to Guma

Guma Capital Proprietary Limited