Meikles Regulatory News (MIK)

MEIKLES LIMITED NOTICE TO SHAREHOLDERS A New Beginning This release is the second of two releases to Shareholders. The first releasefocused on the Group's Retail Division and was published on Monday, 6 October2014. The second release will focus on providing Shareholders with furtherinformation relating to Finance and Outlook as previously set out in theChairman's Report for the year ending 31 March 2014. Finance The Reserve Bank of Zimbabwe has now agreed to release $89 million to MeiklesLimited in the form of Treasury Bills. The Reserve Bank of Zimbabwe and theMinistry of Finance are presently completing the administrative processes tofacilitate the tenure and yield of these Treasury Bills. Once this process isin place, Shareholders will be provided with full details. The Treasury Billswill be based on terms that are marketable by outright sale or as acceptablesecurity. This is the most significant development for the Group in recentyears. The contribution made by Government towards this conclusion is greatlyappreciated. The objectives set out under Finance in the Chairman's Report shall nowprogress in terms of implementation. Outlook The Group will utilize its new financial flexibility to implement measures thatwill enhance Shareholder value. The strategy for the Retail Division hasalready been released to Shareholders. The previously announced expansionprogrammes and strategies relating to TM Supermarkets, Tanganda, Hospitalityand Mining will continue with greater urgency given that our major financialrestraint has been removed. The Group has an opportunity to restructure its activities in both Zimbabwe andSouth Africa with a view to securing its affairs in a manner that first andforemost will focus on a strategy to ensure that Shareholders benefit fullyfrom their investment in the Group. Consideration will now be given to how bestto achieve this objective. The matter will be approached without anypreconceived ideas or ties to past practices, but will focus simply on therequirement of how best to position our diverse group companies to takeadvantage of the rapidly changing environment for the benefit of allstakeholders. Shareholders will be advised fully of any new developments, whichwill be progressed with urgency. By Order of the Board

14 October 2014