GIJ
GIJ
GIJ - Gijima Group Limited - Trading Statement
GIJIMA GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1998/021790/06
Share code: GIJ
ISIN: ZAE000147443
("Gijima" or "the Company")
TRADING STATEMENT
Gijima is currently finalising its results for the twelve months ended 30 June
2011, which are planned to be released on SENS on or about 23 August 2011.
Shareholders are referred to Gijima`s interim results at 31 December 2010 in
which the details of the settlement that Gijima and its funding partners had
reached with the Department of Home Affairs ("the Department") are disclosed.
The settlement with the Department had an adverse once-off impact on the
Company`s earnings per share ("EPS") of 27.99 cents for the twelve months ended
30 June 2011. This comprises the writing down of certain invoices and the future
rendering of support and maintenance services, as well as all direct costs that
are linked to the settlement, namely legal fees, the cost of skills retention
over the duration of the issue at hand, as well as the investment in
restructuring the project team to align with Gijima`s involvement in the
project.
Against the background of the once-off impact of the settlement with the
Department, as well as the impact of the issue on Gijima`s other operations,
shareholders are advised that Gijima`s reported basic earnings per share and
headline earnings per share ("HEPS") for the twelve months ended 30 June 2011
are expected to reduce to a loss of between 21.00 cents and 23.00 cents from the
reported EPS of 16.37 cents and HEPS of 16.44 cents for the twelve months ended
30 June 2010. This translates into a second half (for the six months ended 30
June 2011) EPS and HEPS performance of between 5.25 and 7.25 cents compared to
the EPS of 7.57 cents and HEPS of 7.61 cents achieved in the second half of the
2010 financial year.
The financial information on which this trading statement is based has not been
audited and reported on by the Company`s external auditors.
Samrand
3 August 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 03/08/2011 16:49:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
