Meikles blames MP, detractors for RBZ loan repayment delay

John Moxon

HARARE,– Hospitality and retail group Meikles Limited, which claims it is owed $90 million in debt and interest by the central bank on Thursday blamed the Zimbabwe Stock Exchange, an unnamed lawmaker and other detractors for the delay in the repayment of the debt.

Meikles blames MP, detractors for RBZ loan repayment delay
John Moxon

The Meikles debt accrued in 1998 from transactions related to the group’s dual listing on the Zimbabwe Stock Exchange and the London Stock Exchange.

Information before Parliament, which is set to pass the Reserve Bank Debt Assumption Bill, is that the Meikles debt stood at $25 million in 1998 but shot up to $47 million at the end of 2013 after the inclusion of interest.

The company in February this year clashed with the Zimbabwe Stock Exchange and regulator, the Securities Commission of Zimbabwe and was temporarily suspended from trading on the bourse on allegations of overstating the RBZ debt with the intention of manipulating its price on the stock market.

Meikles’ half-year results to 30 September 2014 showed the balance with RBZ as $43,738 million and TBs of $38,431 million totalling $82,169 million, a decrease in value by $8,63 million.

On Thursday, chairman John Moxon said the group had gathered information through its intelligence systems that there were individuals working against the company’s interests.

“These efforts that began in October 2014 overtly, but earlier in practice, are a concerted effort by individuals, including at least one Member of Parliament, some but certainly not all ex-employees who are unhappy following their removal from office, which in fact was well deserved, and now more recently the ZSE, to disrupt negotiations on the settlement sums due to the company, the placing of TB’s on the market and generally to damage the company’s reputation and well being,” he said in a statement.

While he did not name the MP, in December last year he fell out with Bulawayo South legislator Eddie Cross, who is also a shareholder in the firm, for allegedly using insider information for his personal benefit in contravention of Parliament rules.

Cross was later cleared by Parliament of any wrong doing.

Moxon said the delay had resulted in further damage to the group.

“Implications arising from the delay will only become apparent in their severity in future months and will, where necessary, be communicated to the public,” he said.

Moxon however said a substantial part of the funds had been committed to the group by RBZ in writing but pointed that the agreed timeline had not been adhered to.

“The ultimate value of the funds which have largely, but not entirely, been committed in the form of Treasury Bills is still unknown. The greater number of these TB’s which are about to be issued with satisfactory terms are still to be received by the company and are still to be placed in the market. The company is of the opinion that it cannot predict matters pertaining to the receipt, or value of the funds with precision,” said Moxon.

He said arrangements were being finalized with the RBZ to enable the company to implement a substantial part of its strategic objectives.

“The implementation of the strategic plans for the enhancement of shareholder values are of necessity delayed, but will resume as soon as the company’s forward direction from a shareholder perspective has been determined,” he said.

Moxon said progress on the matter should not be discussed in public as this would not benefit shareholders.

The company has since sued ZSE and the case is still pending before the courts.

Moxon said in the meantime the company would consider how best to advance its interests “in the best possible manner and which may perhaps be outside the framework of the ZSE,” but did not say whether this involved delisting. -The Source

Arts & Entertainment

Arts & Entertainment

Zanu PF bigwigs snub Chinx’s burial

24th June 2017 Staff Reporter 0

HARARE – The burial of the late liberation stalwart and musician Dick “Cde Chinx” Chingaira in Harare yesterday was most notable for the absence of senior Zanu PF and government officials. The 61-year-old Cde Chinx […]

38 Comments on Meikles blames MP, detractors for RBZ loan repayment delay

  1. You no doubt know so appreciably in terms of this matter, helped me personally picture it at a great deal of many angles.. خرید apple id The similar to males and females aren’t engaged apart from it really is think about attain having Kesha! Your own products excellent. Constantly attend to it!

  2. Hi our loved one! I have to claim that this particular article is awesome, terrific created you need to include almost all very important infos persian tar. I wish to look much more blogposts such as this .

  3. Amazing troubles once and for all, you only accumulated a company logo brand new viewer. Just . سرور مجازیwhat might you advocate concerning your publish for you to created week in the past? Any kind of specified?

  4. Woah the following site is great everyone loves researching your posts سرور مجازی امریکا. Remain inside the excellent art! You now know, a lot of individuals are searching rounded just for this details, you are able to help them drastically.

  5. I would not even know how I ended up here, however considered this particular publish once were excellent. I would not recognize which team you might be yet undoubtedly you are going to a new well-known tumblr should you be never witout a doubt خرید vps. Kind regards!

  6. My pal encouraged I’d personally in this way web-site. He / she was fully correct. This post truly designed my own day time.. persian tar You cannot consider exactly how much time frame I did used with this details! Thank you!

  7. I’m going to quickly get a person’s rss feed as I cannot find your current electronic mail membership hyperlink or maybe ezine assistance. Do you’ve any kind of? Please allow us realize making sure that I may just simply signed up persian tar. Thanks.

  8. Thanks for some other spectacular content. The spot in addition may well any individual have that form of info in this best means of composing? I get a business presentation next 7 days, exactly what around the hunt for this sort of info.

  9. Hi there, Neat submit. Likely to difficulty along with your internet site with ie, could follow through? IE nonetheless may be the marketplace leading plus a massive aspect of individuals will omit your own superb writing for this reason problem minakari.

  10. We do have confidence in every one of the aspects you’ve released in your write-up. They’re really effective and definately will surely work. On the other hand, the content are quite brief for first timers. May you want expand these somewhat from next time? Thank you for your article.. هاست اختصاصي وردپرس

  11. You could potentially undoubtedly call at your skills within the work you’re posting. The whole world desires for all the more fervent freelance writers just like you that are not fearful to cover the direction they believe that.. سرور اختصاصی Continually follow the cardiovascular system.

  12. Usually I can’t understand content in blogs, however would like to declare that that write-up really obligated myself to carry out so! Your own creating flavour has become amazed me personally. Appreciate it, pleasant document.. سرور مجازی

  13. Howdy, I uncovered your web site through Bing when researching a comparable subject matter, your web site came up, this indicates wonderful.. سرور مجازی فرانسه We have saved as a favorite to be able to favorites|added onto my personal book marks.

  14. certainly much like your website however, you must examine the particular spelling on a few of your content regularly.. persian tar A few of them will be filled along with transliteration difficulties and I in finding them pretty bothersome to express to the certainty having said that I’ll undoubtedly give back yet again.

  15. definitely such as your site nevertheless, you must examine your transliteration upon a number of you.. minakari A lot of them are generally rife by using transliteration problems we to find them really difficult to tell the certainty on the other hand We’ll definitely give back yet again.

  16. Many thanks for every other amazing post. The location in addition could possibly any individual get that style of details in such an ideal means of writing? For sale display in the future, using this program .. backgammon with the find similarly info.

  17. Hey all, You’ve done a tremendous employment. Let me certainly stumbleupon the item along with professionally would suggest to help my local freinds. My business is confident they are took advantage of your blog سرور اختصاصی.

  18. I’m now not sure in the places you are becoming your own information, although very good subject. My spouse and i has to expend a little while examining much more or even working out a lot more سرور مجازی هلند. Appreciate your terrific details I became in search of this info for my mission.

  19. Fantastic concerns permanently, simply gained a fresh readers. Exactly what would you advocate in relation to this post خرید vps you made a week prior to now? Any kind of good?

  20. Amaze, superb blog site framework! . persian setarJust how long have you ever been blogging for? you’re making posting glimpse quick. The entire seem of your respective website is excellent, not to mention the content!

68 Trackbacks & Pingbacks

  1. Google
  2. Google
  3. sketch comedy
  4. penis enlargement pump
  5. female vibrator
  6. designer
  7. Free Internet Radio
  8. mobile forex app
  9. microfon spion
  10. 8ll transmission
  11. MAC-16A Certification Exam Questions and Answers
  12. adam and eve sex toy shop
  13. best rabbit vibrator
  14. vibrator review
  15. best anal toys
  16. adam and eve
  17. recover deleted files from sd card
  18. 韓国エスコートアガシ
  19. 福井脱毛
  20. 福井脱毛
  21. sex tips
  22. piano classes atlanta for you
  23. سرور مجاری فرانسه
  24. 羅武林向前沖dvd
  25. diamonds
  26. motu and patlu
  27. Smartphone repair
  28. Beading supplies
  29. Sex Toy Storage
  30. TensorFlow
  31. pure kona
  32. reel repair
  33. jimbaran
  34. Birthday Wishes for Friend
  35. Women Sex Toys
  36. Buy Craft Beer Online
  37. Wet Seal brand
  38. best kona
  39. Two Headed Dildo
  40. Berkeley
  41. buy email database
  42. girnede satılık ev fiyatları
  43. unique antiques
  44. hands free sex toys
  45. discount sex toys
  46. bullet sex toy
  47. surf lesson newport beach
  48. Rajamangala University of Technology Thanyaburi
  49. coffee’s best kona
  50. Jewelry
  51. nipple foreplay
  52. queen size cotton sheets
  53. 5ml glass jars
  54. Venture Point Network
  55. most powerful vibrator
  56. Quick News Updates
  57. label baju
  58. where to buy g spot sex toys
  59. butt plug
  60. anal toy
  61. Tarts
  62. kala jadu
  63. Adam and Eve Butterfly Kiss
  64. Hand Held Massager
  65. Under The Bed Restraints
  66. adam and eve
  67. nurse costume
  68. g-spot stimulation

Leave a Reply

Your email address will not be published.


*