Browsing: Meikles Limited

• Meikles seeks approval to delist from London Stock Exchange.
• 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 on November 14, 2022.

Zimbabwe Stock Exchange (ZSE)-listed diversified group Meikles Limited said 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 on November 14, 2022.  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 …

The company has been in existence for about 130 years and in that period amassed a substantial portfolio of businesses that comprise hospitality, food retail, agriculture, and security services. The large size of the company and dominance in the markets made it a darling of the Zimbabwe Stock Exchange.

At the height of its conglomerate strategy, the company owned everything from food retailers, department stores, a cotton printing company, tea estates, and a bank. Meikles was even called Kingdom Meikles Africa during its short-lived with Kingdom Financial Holdings.

The company divested its financial services interest in a demerger after an acrimonious shareholder and boardroom dispute and so began the drive to refocus its business activities around its core businesses namely retail, hospitality, security services, real estate, and agriculture. Meikles recently announced that it would be discontinuing its mining activities.…