Meikles seeks nod for LSE delisting

ZIMBABWE Stock Exchange (ZSE)-listed diversified group Meikles Limited says it is seeking shareholder approval to delist from the London Stock Exchange (LSE).

The proposal will be among key issues to be discussed during the firm’s annual general meeting (AGM) next month, according to a notice to shareholders released yesterday.

Meikles will hold its 85th AGM virtually on December 5.

“That the company cancels the listing of its 4 556 899 ordinary shares on the official list of the financial conduct authority and the trading on the main market of the London Stock Exchange,” the company said in the notice under special business.

“That the directors of the company are hereby authorised to do all such things required to delist the company’s shares from LSE.”

The firm has been undertaking key decisions, which recently saw it demerge its subsidiary Tanganda Tea Company last year which was then separately listed on ZSE.

Tanganda is one of the country’s top tea-processing firms, and produces the popular Tanganda Tea brand from large swathes of prime estates in Zimbabwe’s eastern districts.

In 2019, Meikles Limited sold its flagship Meikles Hotel to Dubai-based Albwardy Investment for US$20 million.