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GIJ
GIJ
GIJ - Gijima Ast Group Limited - Who am I online contract - Legal dispute
GIJIMA AST GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1998/021790/06
Share code: GIJ
ISIN: ZAE000064606
("Gijima AST" or "the company")
WHO AM I ONLINE CONTRACT - LEGAL DISPUTE
The conclusion of the Who Am I Online contract signed in June 2008 between the
Department of Home Affairs and GijimaAst is a matter of public record.
The project involves the design, development and implementation of an integrated
core system for the Department of Home Affairs including all business processes
of both its Civics and Immigration Divisions.
After close of business on 13 April 2010 the Department of Home Affairs sent a
letter to GijimaAst in which the Department contended that the contract is
invalid.
GijimaAst has taken legal advice and through its lawyers disputes that
contention as the company maintains that the contract is valid and enforceable.
If the matter is not resolved it is possible that litigation on this issue will
follow.
GijimaAst has fulfilled its obligations and continues to perform in terms of the
contract with an extensive and experienced team dedicated full-time to the
project. GijimaAst is one of the largest ICT companies in South Africa with
extensive experience of implementing complex projects in the public and private
sectors. Consortium partners on the project include inter alia multinational
companies such as Daon, the world leader in identity management systems, IBM and
Siemens.
There has previously been no suggestion from the Department of Home Affairs that
the contract is not valid and enforceable. GijimaAst has been performing in
terms of the contract for some two years and the Department`s claim that the
contract is invalid was therefore completely unexpected.
The board of directors is currently considering all options available to the
company and should the Department of Home Affairs persist in disputing the
validity of the contract, GijimaAst will consider inter alia seeking a
declaratory order from the High Court affirming the validity of the contract.
If this dispute continues it could have a material impact on the earnings of
GijimaAst as the contract currently represents approximately 15% of GijimaAst
revenue.
GijimaAst will continue to keep shareholders informed of further developments.
Samrand
15 April 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 15/04/2010 08:00:04 Produced by the JSE SENS Department.
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