In April 2005, two leading ICT companies, AST Group and Gijima Technologies, merged to form a new ICT powerhouse - Gijima AST Group Limited (GijimaAst).
Under the merger agreement AST-A Holdings (Proprietary) Limited acquired certain information technology businesses and interests from GUMA Investment Holdings (Proprietary) Ltd, formerly known as Gijima Info Technologies Afrika (Proprietary) Limited.
Certain other businesses which were regarded as non-core to the operations of AST Group remained within GUMA Investment Holdings.
With reference to the Business Report article of 26 January 2006, under the headline "Takeover talk fuelling Prism`s rise", there is a statement that "Another company that may be interested in Prism is GijimaAst, which has already bought a 25.1% stake in Prism`s wholly owned subsidiary, Prism TranSwitch Services, for R15.3 million in cash." This statement is factually incorrect.
The fact is that GUMA Investment Holdings (Pty) Ltd indirectly holds a 25.1% share of EasyPay (Pty) Ltd (formerly Prism TransSwitch Services (Pty) Ltd), and has done so for some significant time. The listed entity GijimaAst has no holding in Prism, nor is it in negotiations of any sort with Prism to acquire a shareholding.
GijimaAst, which was awarded an AA Empowerdex rating at the end of 2005, will announce its interim results on 28 February 2006.
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GijimaAst`s intellectual capacity, its business model and strong customer base form the foundation for the group`s integrated services and solutions business. Ideally positioned as a leading technology solutions company and focused on selected industries, GijimaAst unlocks substantial value for its customers.
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