(Last Updated on April 15, 2021 by GERALD NCUBE)
HARARE – Meikles Limited has announced plans to unbundle its agro-processing subsidiary, Tanganda Tea Company from the Group and separately list it on the Zimbabwe Stock Exchange.
In a statement, the group said it was engaged in discussions on the process which if implemented will have an impact on the value of its shares.
“The Board of Directors of the Company wish to advise shareholders and members of the investing public that the Board is engaged in discussions and is considering various proposals which, if implemented, may have a material impact on the value of the Company’s shares,
“In this regard, the Directors have determined to unbundle from the Company and separately list on the Zimbabwe Stock Exchange the Company’s agricultural processing business, Tanganda Tea Company Limited. To this end, the Company has engaged professional advisors. Shareholder approvals will be sought in due course, with these processes running alongside normal year-end procedures,” read the statement from the company.
The statement further warned the investing public to be cautious and consult their professional advisors before trading the company’s shares until the full of the transactions are announced.
Meikles Ltd has a diverse portfolio of investments in hotels, retail supermarket chains and agriculture.
