Meikles Ld Result of Extraordinary General Meeting
19 December 2019 - 8:20PM
UK Regulatory
TIDMMIK
MEIKLES LIMITED
NOTICE TO SHAREHOLDERS
NOTICE OF THE RESULTS OF THE EXTRAORDINARY GENERAL MEETING
The Directors of Meikles Limited wish to advise shareholders that as per the
Notice published on the 22 November 2019, the Company held the Extraordinary
General Meeting of shareholders on 13 December 2019. The results of the voting
on the proposed resolutions are as follows:-
AS ORDINARY RESOLUTIONS RESULT
Exchange Control Approval
1. "THAT the Directors obtain approval from Exchange Control
Authorities to receive the proceeds of the Disposals in
resolutions 2 and 3 below in a ring fenced foreign currency Passed
account under the control of the Company to be utilised as set
out in section 5 of the Circular or any other mechanism that
safeguards the proceeds in foreign currency to the satisfaction
of the Directors."
Disposal of the Meikles Hotel Immovable Property
"THAT in terms of Article 119 of the Company's Articles of
Association and subject to the passing of resolution 1 above, the
2. Directors be and are hereby authorised to dispose of the Meikles Passed
Hotel Immovable Property, being land and buildings located on
Stand 17600 Harare Township, corner Jason Moyo Avenue and Third
Street, Harare, Zimbabwe to ASB Hospitality (Zimbabwe) (Private)
Limited for a gross consideration of US$16.2 million payable in
United States Dollars."
Disposal of the Meikles Hotel Business and related Hotel Assets
"THAT in terms of Article 119 of the Company's Articles of
3. Association and subject to the passing of resolution 1 and 2
above, the Directors be and are hereby authorised to dispose of Passed
the Meikles Hotel Business and Related Hotel Assets to ASB
Hospitality (Zimbabwe) (Private) Limited for a gross
consideration of US$3.8 million payable in United States Dollars"
Directors' authority to give effect to the above resolutions
4. "THAT the Directors of the Company be and are hereby authorised
to do any and all such things as may generally be required or Passed
necessary to give effect to the above resolutions"
Accordingly all resolution proposed to shareholders were duly passed subject to
the Directors obtaining approval from Exchange Control Authorities as per
resolution 1 above.
Upon fulfilment of the above Condition Precedent, the Company will advise
shareholders through announcement in the press.
By Order of the Board
Tabani Mpofu
Company Secretary
19 December 2019
END
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