Johannesburg - ICT services company Gijima has suspended its shares ahead of its delisting on May 12, the company announced on Monday.
This follows the acquisition of all of its share capital by Guma, which is controlled by Gijima’s founder, Robert Gumede.
The company was facing the threat of having its shares suspended following its failure to submit its financial statements to December within the three-month period stipulated by the JSE.
The buyout by Guma comes as the company is starting to implement a turnaround strategy following a few years of poor performance.
The delisting ends a 15-year stay on the JSE for Gijima.
ANA