Zimbabwe Stock Exchange executives reinstated trading privileges for Meikles Limited securities after the company addressed outstanding corporate governance violations. Chief executive Justin Bgoni announced that circuit breakers would open to facilitate market price discovery mechanisms. The exchange had suspended share transactions in November 2024 pending resolution of two critical operational matters. Investors regained the ability to purchase and sell company securities following successful remediation efforts. Board restructuring and leadership changes satisfied regulatory requirements for resumed trading activity.
Fayaz King assumed the acting chairman position as part of comprehensive board reconstitution measures. John Moxon stepped down from his longtime leadership role while maintaining his board membership status. His son Matthew departed the board but continues directing the property subsidiary operations. The company committed to selecting a permanent chairman within six months of the current appointment. Previous board conflicts had resulted in the removal of four directors following strategic disagreements.
Meikles derives substantial revenue streams from its Pick n Pay Zimbabwe retail operations across multiple locations. Third quarter sales volumes advanced eight percent while nine-month figures registered two-percent growth compared to previous periods. Hospitality segment room occupancy rates improved to 44 percent during the quarter from 42 percent last year. Group revenue expanded 54 percent quarterly due to exchange rate movements and volume increases across business segments. Quarterly profit reached 73.4 million Zimbabwe Gold compared to a 4.5 million loss during the corresponding 2023 period.
Fayaz King assumed the acting chairman position as part of comprehensive board reconstitution measures. John Moxon stepped down from his longtime leadership role while maintaining his board membership status. His son Matthew departed the board but continues directing the property subsidiary operations. The company committed to selecting a permanent chairman within six months of the current appointment. Previous board conflicts had resulted in the removal of four directors following strategic disagreements.
Meikles derives substantial revenue streams from its Pick n Pay Zimbabwe retail operations across multiple locations. Third quarter sales volumes advanced eight percent while nine-month figures registered two-percent growth compared to previous periods. Hospitality segment room occupancy rates improved to 44 percent during the quarter from 42 percent last year. Group revenue expanded 54 percent quarterly due to exchange rate movements and volume increases across business segments. Quarterly profit reached 73.4 million Zimbabwe Gold compared to a 4.5 million loss during the corresponding 2023 period.
