GIJIMA GROUP LIMITED - Trading statement

Trading statement

Gijima Group Limited
(previously Gijima AST Group Limited)
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 2012, which are planned for release on SENS on or
about 26 September 2012.

In this regard, shareholders are advised that Gijima’s reported
basic earnings per share (“EPS”) and headline earnings per share
(“HEPS”) for the twelve months ended 30 June 2012 are expected to
improve to a loss of between 5.00 cents and 5.50 cents from the
reported basic and headline loss per share of 21.84 cents and
21.73 cents respectively for the twelve months ended 30 June 2011.

EPS and HEPS for the twelve months ended 30 June 2012 were
negatively impacted by a net 4.66 cents comprising of a number of
once off items:
                                                              Impact
                                                             (cents)
 Reversal of an accrual not expected to realise that            2.69
 was created in previous reporting periods
 Costs relating to the implementation of the new              (1.67)
 client centric business model
 Unrealised foreign exchange rate losses on the               (0.87)
 translation of intercompany loan accounts
 Optimisation costs                                           (2.87)
 Onerous contract provision in respect of the terms of
 a reseller agreement disputed by the company                 (1.94)
 Total impact of once off items                               (4.66)

EPS and HEPS for the twelve months ended 30 June 2012 were in
addition negatively impacted by the loss of the SITA SAPS contract
from 1 February 2012 as well as the insource of a significant
portion of the Absa contract from 1 April 2012. The cost of
rationalising the business in line with these contract
terminations were borne in the year ended 30 June 2012 and are
included in the optimisation costs line-item above.

Basic and headline loss per share reported for the twelve months
ended 30 June 2011 included a once-off expense in terms of a
settlement agreement reached with the Department of Home Affairs.
Should the impact of the once-off settlement expense be eliminated
from the comparative period’s results, the expected EPS and HEPS
loss of between 5.00 cents and 5.50 cents for the twelve months
ended 30 June 2012 compare to a normalised basic and headline
profit of 6.16 cents.
The financial information on which this trading statement is based
has not been audited and reported on by the Company’s external
auditors.

Samrand
12 September 2012

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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