Meikles Limited has announced its intentions to unbundle its agro-processing subsidiary, Tanganda Tea Ltd, from the group, a move which would see it listed separately on the Zimbabwe Stock Exchange.
The company says it has since engaged professional advisors, and adds that shareholder approval will be sought in due course.
Shareholders and the transacting public have been urged to trade with caution, consult their advisors before dealing with the company’s shares until full details of the unbundling are announced.
Tanganda, which began in the 1920s as an experiment in tea production, is Zimbabwe’s largest producer of tea.
-Zwnews
Read full statement below:
