THE curtain will fall on IT firm Gijima next week as it bows out of the JSE. Shares in the company, controlled by businessman Robert Gumede, were suspended on Monday following a shareholder vote in favour of the buyout of minorities by Gumede’s Guma Investments.The delisting ends an era dating back to the late 1990s, when the company was known as Advanced Software Technologies. The name was changed in 2010 after Gumede bought a controlling stake. The delisting does not mean the end for Gijima as the company aims to continue its turnaround and reclaim lost ground out of the public eye.Gijima has been mired in controversy in recent years and although it has worked hard to shake off the negative perception, along the way it lost favour with minority investors, who did not take up last year’s rights issue. Operating under the radar might be a good move for the time being.The delisting of Gijima and an expected similar move by Business Connexion — if its takeover by Telkom gets regulator...
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