Gijima shares on the Johannesburg Securities Exchange (JSE) have been suspended from today (4 May), leading up to the company’s delisting next week (12 May).
This follows an agreement for Guma to acquire all of the remaining shares in Gijima, which was approved by 99,38% of shareholders last month.
Gijima will now voluntarily delist, and will henceforth operate as a private company.
In terms of the agreement, Guma acquired the remaining 6 930 389 shares in the issued ordinary share capital of Gijima, for a payment amount of 220 per share. This is a 10% premium on the rights offer made in December 2014 and a 30% premium on the 30-day average share price.