RSS 2.0 FeedFebruary 2010 Vol 5, Business , Financial and Property Indaba
Kingdom Meikles Africa Limited De-Specified
Harare — KINGDOM Financial Holdings Limited and Meikles Africa Limited may soon relist on the Zimbabwe Stock Exchange after the Government last week de-specified Kingdom Meikles Africa Limited.
Harare — KINGDOM Financial Holdings Limited and Meikles Africa Limited may soon relist on the Zimbabwe Stock Exchange after the Government last week de-specified Kingdom Meikles Africa Limited.
The two companies could not consummate their de-merger to return to the bourse separately before specification on KMAL was lifted.
Tanganda Tea Company (Private) Limited, Thomas Tea Company and Meikles Consolidated Holdings specifications have also been lifted.
The de-specification comes two weeks after the Government lifted specification on three Moxon family members -- Ms Fiona Patrick Silcock, Mr Anthony Philip William Moxon and Mrs Alexandra Caroline Moxon.
The group's four subsidiaries -- ASH Investments (Private) Limited, FPS Investments (Private) Limited, APWM Investments (Private) Limited and ACM Investments (Private) Limited -- also had their specification revoked.
Self-exiled former KMAL chairman John Moxon, however, remains specified.
Under the Prevention of Corruption Act, specified persons are, among other restrictions, prohibited from performing any act as an agent of a company or partnership that is also specified.
Moxon was specified in January last year, over allegations of externalising US$22,5 million at the height of boardroom squabbles between him and Mr Nigel Chanakira, then KMAL chief executive.
