GIJ - Gijima Group Limited - Trading Statement

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 Supplied by www.sharenet.co.za                     
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