MIK Meikles Limited

 

TIDMMIK 
 
RNS Number : 3708I 
Meikles Limited 
10 March 2010 
 
                                MEIKLES LIMITED 
                                ('The Company') 
 
 
                             NOTICE TO SHAREHOLDERS 
 
 
The Company wishes to inform shareholders that the following Group Companies, 
Kingdom Meikles Limited, Tanganda Tea Company Limited and Thomas Meikle Centre 
(Private) Limited, together with the Group Company Secretary, were de-specified 
in the Zimbabwe Government Gazette dated 12 February 2010.  All Group Companies 
and management have now been de-specified. 
 
Meikles Limited's suspension on the Zimbabwe Stock Exchange was lifted on 22 
February 2010. 
 
Shareholders are further advised that the de-merger transaction approved at the 
Extraordinary General Meeting held on 22 June 2009 is progressing and 
shareholders will be updated on further progress in due course. 
 
Shareholders are advised that Mr M A Masunda stood down as the Company's 
Chairman on 2 December 2009 and has resigned as a director of the Company with 
effect from 31 December 2009.  The Board wishes to express its appreciation to 
Mr Masunda for the long and valuable contribution he has made to the Group since 
he joined in 1996, and, in particular, for his contribution during the years 
2008 and 2009, when he became Chairman, as this was an exceptionally difficult 
period for the Group.  Similarly, the Board expresses its appreciation to Mr D E 
Stephens for his contribution to the Group.  Best wishes to both of them for the 
future. 
 
Mr F Rwodzi has been appointed Chairman.  He has also joined the Board, together 
with Messrs B J Beaumont, O Makamba and K Ncube. 
 
Mr B J Beaumont has been appointed the Group Chief Executive Officer and Mr O 
Makamba has been appointed the Group Financial Director. 
 
The Company's year end is 31 December 2009 and the Group's results are scheduled 
to be released by 31 March 2010 in accordance with the Zimbabwe Stock Exchange's 
requirements.  Shareholders are advised that all operations have been subject to 
the current difficult trading environment, characterised by limited liquidity, 
high financing costs and the events leading up to the resolution of the 
shareholders' dispute.  As a result, notwithstanding positive performances from 
some operations, the Company as presently constituted has returned a loss in the 
year to 31 December 2009.  Notwithstanding this, plans are well developed for 
business consolidation and expansion and shareholders will be appraised of 
developments in due course. 
 
Please be advised the Zimbabwe Registrar of Companies on 16 February 2010 
changed the name of the company from Kingdom Meikles Limited to Meikles Limited. 
 
 
 
  Directors: B J Beaumont (Chief Executive Officer); F Rwodzi (Chairman); T B 
                             Cameron*; R Chidembo; 
           B Chimhini*; O Makamba*, R H Meiring*; A C Mills*;K Ncube. 
                                  * Executive 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 BOASFSFESFSSELD 
 

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