Meikles Limited shares have been halted from trading on the Zimbabwe Stock Exchange for a period of up to one hundred and eighty days (180) to allow the company to address some corporate governance issues.
The suspension is effective the 26th of November 2024.
The company has recently been in turmoil following major shareholder John Moxon’s (48.38%) complain about being sidelined when the board approved the decision to fire then Chief Executive Officer, Malcolm Mycroft and replacing him with his son, Matthew Moxon.
He is opposed to both the dismissal and appointment. The board met when he was not feeling well and hospitalised.
The major shareholder has come out guns blazing calling for the disbandment of the board at a shareholder meeting slated for 18 December 2024.
The suspension will be lifted once the governance issues are resolved.
