Harare - Meikles Limited, the Zimbabwean partner of Pick n Pay [JSE:PIK] in the country’s TM Supermarkets, has been suspended from the Zimbabwe Stock Exchange (ZSE) after a row erupted over its alleged “erroneous” financial accounts for the full half year period to the end of 2014.
With diversified interests in city and resort hotels, agro-processing, supermarkets, departmental stores and recently mining, Meikles is one of Zimbabwe’s biggest conglomerates. It declared a 2 cents dividend per share for the interim period to the end of September 30.
“Meikles Limited was suspended from trading with effect from 16 February 2015,” the ZSE said in an update on Monday afternoon. Pick n Pay owns 49% in Zimbabwe’s TM Supermarkets, with some of the stores being branded into Pick n Pay outlets.