Meikles Limited says that it is working on delisting from the Zimbabwe Stock Exchange (ZSE). The conglomerate is working on a possible offer buy out minority shareholders to allow it to delist from the ZSE.
Company secretary Thabani Mpofu said:
The Directors of Meikles Limited wish to advise shareholders that the Company is currently engaged in discussions on a transaction that may have material impact on the value of the Company’s shares.
The transaction relates to a possible offer to minorities and subsequent delisting of the Company from the Zimbabwe Stock Exchange in line with section 9 of the Zimbabwe Stock Exchange Listing requirements,
The conglomerate’s turnover for the year was $454 million.