Meikles Ld Notice to Shareholders
08 January 2019 - 6:17PM
UK Regulatory
TIDMMIK
MEIKLES LIMITED
NOTICE TO SHAREHOLDERS
The Directors of Meikles Limited would like to advise shareholders that Wide
Free Investments t/a Core Solutions proceeded to auction certain assets of the
Group on the 24 December 2018. The assets relate to Meikles Limited's
investments in Tanganda Tea Company Limited and Meikles Hospitality (Private)
Limited. This auction is being contested in the Supreme Court, the outcome of
which is pending. The attachment and subsquent auctioning of the assets was as
a result of a heavily contested arbitral award of $1.5 million to Core
Solutions. This matter is before the Court under case number (SC 988/18).
In addition to contesting the auction in the Supreme Court, Meikles Limited has
appealed against the arbitral award in the High Court. The outcome of the
appeal against the arbitral award is pending.
The Meikles Limited Board has put other measures in place to ensure Company
assets are safe and shareholder value is protected.
BY ORDER OF THE BOARD
T MPOFU
Company Secretary
8 January 2019
END
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