RNS Number : 9604M
Meikles Africa Ld
06 February 2009
KINGDOM MEIKLES LIMITED
Shareholders are advised that one of Kingdom Meikles Limited's Directors, Mr J. R. T. Moxon was specified on 16 January 2009 in terms of Section 6 of the Prevention of Corruption Act, Chapter 9 : 16. In terms of Section 10 1 ( e) of that act, he shall not perform any act as a director of a company registered in Zimbabwe.
Shareholders are further advised that the Company has instituted legal action in South Africa against Coolbay Investments (Pty) Ltd, Mr J. R. T. Moxon and Mentor Holdings Ltd and Messrs S. Levenberg and B. Till for the recovery of funds deposited with Coolbay Investments (Pty) Ltd and Mentor Holdings Limited. The total amount being claimed in the two actions is US Dollars 22,1 million.
Shareholders are further advised that Mentor Africa Ltd has purported to have exercised the call option it alleges it has in respect of Kingdom Meikles Limited's interest in Cape Grace Hotel. The Company contests the validity of the purported exercise of this option. There is the possibility of litigation if Mentor Africa Limited contends its exercise of the call option is enforceable.
Shareholders will be advised of further developments in due course.
The Company Secretary Kingdom Meikles Limited
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