Andrew
Online Reporter
Meikles Limited has postponed the listing of agricultural subsidiary, Tanganda Tea Limited, as the Zimbabwe Revenue Authority (Zimra) is yet to approve an application for Capital Gains Tax Relief.
Tanganda had been set to list on November 9, following an earlier reschedule over the same issue.
“Shareholders are advised that the expected Listing of Tanganda on the Zimbabwe Stock Exchange scheduled for 9 December 2021 as per the notice dated 16 November 2021 is hereby deferred to a later date.
“Meikles Limited has sought the Zimbabwe Revenue Authority’s approval for Capital Gains Tax Relief as provided in terms of Section 15 (1) (b) of the Capital Gains Tax Act (Chapter 23:01),” said the group in a statement on Thursday.
“This approval has not yet been granted. Meikles is engaging Zimra on the matter which is a Condition Precedent according to the proposed demerger of Tanganda by way of a dividend in specie to Meikles’ shareholders and subsequent listing of Tanganda.”
Online Reporter