Tuesday May 6, 10:35 AM
Meikles Africa says Kingdom Meikles Africa shares given full fungibility UPDATE
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LONDON (Thomson Financial) - Meikles Africa Ltd. said the Reserve Bank of Zimbabwe has granted full fungibility status to all Kingdom Meikles Africa Ltd. shares listed on the London Stock Exchange (LSE: LSE.L
- news) , meaning London-listed shares will be convertible into their Zimbabwean equivalents.
Meikles Africa's merger with Kingdom Financial Holdings, Tanganda Tea and Cotton Printers to form Kingdom Meikles Africa Ltd. was completed on Dec. 31. The consolidated company's shares will be listed in London as well as Harare.
In a results statement on March 25, Meikles Africa said it had entered an option agreement, which might include an exchange of assets, to invest in Mentor Africa, a new pan-regional, sub-Saharan investment company.
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