Gijima up on cautionary

The news sent Gijima's stock 14.52%, or 9c, higher, to close at 71c; 10c higher than its 52-week low, which it hit on 28 March. Its 52-week high is 162c, which it reached on 13 April last year.

Gijima says it is “continuously reviewing its business strategy to ensure that it maximises shareholder value”. As part of this strategy, it says it is in “discussions”, which could affect its share price if successfully concluded.

Last month, Gijima reported its first half results for the period to December and said the settlement with the Department of Home Affairs after a dispute over the “Who Am I” contract had cost it a year-and-a-half's worth of profits.

Shareholders have been advised to be cautious when trading shares.