MEIK.zw | Results of Extraordinary General Meeting

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MEIK.zw | Results of Extraordinary General Meeting

NOTICE OF THE RESULTS OF THE EXTRAORDINARY GENERAL MEETING HELD ON 27 NOVEMBER 2013

Shareholders are advised that:

As a Special Resolution No. 1: That a further 4,000,000 unissued shares of the company be placed under the control of the directors who shall have the authority to issue the shares to the Meikles Limited Employee Share Ownership Trust on such terms and conditions as they deem fit, provided that the shares be issued at a price calculated on the basis of the weighted average price of Meikles Limited shares over the thirty (30) days prior to the date of issue was unanimously passed by shareholders.

As a Special Resolution No. 2: The Company provides direct financial assistance in the form of loan funding to the Meikles Limited Employee Share Ownership Trust (“The Trust”) to enable the Trust to finance the subscription of up to a maximum of 28,000,000 shares in the Company (of which 8,418,510 shares have been issued) at a subscription price calculated on the basis of the weighted average of Meikles Limited shares over thirty (30) days prior to the issue, subject to the Company only providing such direct financial assistance in the form of loan funding when the Company’s funds on deposit with the Reserve Bank of Zimbabwe (“RBZ”) are repaid by the RBZ was unanimously passed by shareholders.

As a Special Resolution No. 3
The company provides direct financial assistance in the form of loan funding to the Share Purchase Scheme – 2011 (“The Scheme”) to enable The Scheme’s participants’ share holding company to finance the purchase of 11,187,619 shares in the Company from the market at market prices, subject to the Company only providing such direct financial assistance in the form of loan funding when the Company’s funds on deposit with the Reserve Bank of Zimbabwe (“RBZ”) are repaid by the RBZ was unanimously passed by shareholders.

COMPANY SECRETARY
MEIKLES LIMITED

2014-06-12T15:28:41+00:00 November 29th, 2013|Corporate announcements|0 Comments

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