Harare- EMBATTLED Meikles Limited’s trading has been suspended on the Zimbabwe Stock Exchange (ZSE) with immediate effect ,Express Mail Zim can report.
The development follows allegations of corporate governance violations and it subsists until further notice.
ZSE issued a public notice this week and stated that they need to make a relevant application to the Securities and Exchange Commission of Zimbabwe.
“The application for the suspension by the ZSE is to allow Meikles Limited to address corporate governance concerns,” Justin Bgoni, ZSE Chief Executive Officer, stated in a notice to the investing public.
Lately, Meikles Limited has been involved in a massive dispute over corporate governance and management issues where they suspended the chief executive Malcolm Mycroft.
However,John Moxon is said to be throwing his weight behind the corruption accused Mycroft and is contemplating legal action to overturn his suspension.
Inside sources told Express Mail Zim that Moxon is at loggerheads with the acting chief executive Mathew and he wants to run an oligarchy.
Moxon is the same man who “buried” Nigel Chanakira alive over the Cape Grace hotel saga and chucked out of KMAL Holdings .
