Meikles to sell off assets to optimise shareholder value

MEIKLES Limited, a leading Zimbabwean conglomerate, has announced that it is engaged in negotiations to sell off some of its assets, a strategic move aimed at optimising its portfolio and enhancing shareholder value.

This move is aimed at refocusing the business on its core operations, improving efficiency, and positioning the company for future growth.

In a statement, Non-Executive Chairperson Mr John Moxon said that the proposed disposal transaction may constitute a “Category 1” transaction under Section 253 of SI134/2019.

“The Company would be seeking the approval of its shareholders for the proposed disposal at an Extraordinary General Meeting (“EGM’) to be convened at a future date. If concluded, the transaction may have a material effect on the Company’s shares,” reads the statement.

Mr Moxon urged shareholders and the public to be cautious when buying or selling Meikles Limited shares until a formal announcement is made and the necessary regulatory approvals are obtained.

This precautionary measure is intended to prevent any potential misinformation or speculation that may impact the company’s share price.-chroncile