Notice to Shareholders
16 January 2012 - 10:05PM
UK Regulatory
TIDMMIK
MEIKLES LIMITED
NOTICE TO SHAREHOLDERS
The Board of Meikles Limited ("Meikles/ the Company") has been notified by the
Moxon Group that they have exchanged their combined shareholding in Meikles
into one entity Gondor Capital Limited ("Gondor"), a non-resident entity.
Gondor's shareholding is 100% held by the Moxon Group which means that there is
no change in the underlying beneficial ownership of their shareholding in
Meikles. The transaction also has no effect on the Company's indigenisation
status. This transfer consolidates the Moxon Group's investment in Meikles into
one investment vehicle, the position that pertained prior to the 2007 merger.
The Company is aware that the Reserve Bank of Zimbabwe has sanctioned this
transaction and that the Zimbabwe Stock Exchange has been advised as
appropriate. Meikles has been advised by the Moxon Group that the rationale for
this transaction is to mobilise substantial capital for the Company in the
international capital markets. The Group would like to thank all the
Governmental authorities in Zimbabwe, including the Ministry of Youth
Development, Indigenisation and Empowerment and the Reserve Bank of Zimbabwe,
for their foresight and understanding in supporting the transaction.
The Board will keep shareholders updated on developments as they occur.
BY ORDER OF THE BOARD
16 January 2012
END
Meikles (LSE:MIK)
Historical Stock Chart
From Sep 2024 to Oct 2024
Meikles (LSE:MIK)
Historical Stock Chart
From Oct 2023 to Oct 2024
Real-Time news about Meikles Limited (London Stock Exchange): 0 recent articles
More Meikles News Articles