Meikles Limited has announced that it is in discussions over the potential disposal of its remaining interest in hospitality operations, a move that could significantly reshape the group's business portfolio.
In a cautionary statement released on Tuesday, the company said negotiations are currently underway and shareholders should exercise caution when trading in its shares until a full announcement is made.
"The Directors of Meikles Limited ("the Company") wish to advise shareholders and the investing public that the Company is currently engaged in discussions relating to the potential disposal of its remaining interest in hospitality operations," the company said.
The proposed transaction is expected to qualify as a Category 1 transaction under Zimbabwe's listing regulations, meaning shareholder approval will be required before the deal can proceed.
"The proposed transaction may constitute a 'Category 1' transaction in terms of Section 253 of Statutory Instrument 134 of 2019. Accordingly, the Company will seek shareholders' approval for the proposed disposal at an Extraordinary General Meeting ("EGM") to be convened in due course," the statement reads.
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Meikles said the outcome of the transaction could have a significant impact on the value of its shares.
"If concluded, the transaction may have a material effect on the value of the Company's shares," the company said.
The group urged investors and shareholders to seek professional advice and remain cautious while discussions continue.
"Accordingly, shareholders of the Company and the investing public are advised to exercise caution or should consult their professional advisors when dealing in the Company's shares until a full announcement is made," the company added.
The cautionary statement was issued by Company Secretary B. Peresuh on behalf of the board and is dated June 2, 2026.
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