GIJ
GIJ
GijimaAst/ Guma - Ruling by Securities Regulation Panel
GIJIMA AST GROUP LIMITED
("GijimaAst")
(Incorporated in the Republic of South Africa)
(Registration number 1998/021835/07)
Share code: GIJ
ISIN: ZAE000064606
Guma Investment Holdings (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/002438/07)
Proposed waiver of mandatory offer by Guma to GijimaAst shareholders: Ruling by
Securities Regulation Panel
GijimaAst shareholders are referred to an announcement released on SENS and
published in the press on 7 February 2006 inviting shareholders to provide
written submissions to the Executive Director of the Securities Regulation Panel
("SRP") by 1 March 2006 as to why the SRP should not consent to waive the
requirement that Guma Investment Holdings (Proprietary) Limited (formerly Gijima
Info Technologies Afrika (Proprietary) Limited) ("Guma") extend a mandatory
offer to minority GijimaAst shareholders, as required in terms of the Securities
Regulation Code on Takeovers and Mergers, at a price of 30 cents per GijimaAst
share subsequent to Guma exercising an option which resulted in its shareholding
in GijimaAst increasing from 32.01% to 36.61%. The volume weighted average
price per GijimaAst share for the 30 trading days ended 6 March 2006 was 71.6903
cents.
The Executive Director of the SRP has not received any submissions and,
consequently, the SRP has waived the requirement that Guma extend a mandatory
offer to minority GijimaAst shareholders.
7 March 2006
Midrand
Sponsor
Standard Bank
Date: 07/03/2006 02:46:08 PM Produced by the JSE SENS Department
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