GIJ - Gijima Group Limited - Extension of long-term debtors securitisation

GIJ - Gijima Group Limited - Extension of long-term debtors securitisation      
funding programme                                                               
GIJIMA GROUP LIMITED                                                            
(Incorporated in the Republic of South Africa)                                  
Registration number 1998/021790/06                                              
Share code: GIJ                                                                 
ISIN:  ZAE000147443                                                             
("Gijima" or "the Company")                                                     
EXTENSION OF LONG-TERM DEBTORS SECURITISATION FUNDING PROGRAMME                 
INTRODUCTION                                                                    
Gijima hereby announces that it has secured the extension of its long-term      
debtors securitisation funding programme ("the Programme"), which was initiated 
in July 2006. In terms of this Programme, the Company issued R300 million class 
A secured debentures to investors in the capital markets.                       
The R300 million class A debentures comprise R150 million class A1 debentures   
maturing on 30 June 2015, and R150 million class A2 debentures maturing on 30   
June 2012.                                                                      
EXTENSION OF THE PROGRAMME                                                      
The Programme`s transaction documentation makes provision for the extension of  
maturing debentures on or before the relevant maturity dates. Gijima has secured
written confirmation from the existing investors in the R150 million Class A2   
secured debentures maturing on 30 June 2012 that these investors have elected to
subscribe for a new issue of R150 million class A debentures.                   
The salient terms of the new issue of Class A debentures are the following:     
Amount: R150 million class A secured debentures;                                
- Duration: 5 years, with a maturity date of 30 June 2017;                      
- Interest convention: Non-amortising interest only; capital bullet on maturity;
- Interest rate: a fixed interest rate linked to the applicable 5 year benchmark
 at the date of issue.                                                          
The R150 million class A1 debentures, which are scheduled to mature on 31 June  
2015 remain in issue and are unaffected by the extension of the Programme for a 
further 5 year period. The Company will assess its funding requirements prior to
the maturity of the class A1 debentures on 30 June 2015.                        
This announcement is unrelated to the cautionary announcement issued on 25 April
2012. Accordingly, shareholders are advised to continue to exercise caution when
dealing in Gijima shares until a full announcement is made.                     
Samrand                                                                         
21 May 2012                                                                     
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 21/05/2012 15:00:05 Supplied by www.sharenet.co.za                     
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