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</o:shapelayout></xml><![endif]--></head><body lang=EN-ZW link="#0563C1" vlink="#954F72"><div class=WordSection1><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse'><tr><td width=1334 valign=top style='width:667.15pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='text-align:justify'><span style='font-family:"Candara",sans-serif'><o:p> </o:p></span></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 align=left width=1106 style='width:552.85pt;border-collapse:collapse;margin-left:7.5pt;margin-right:7.5pt'><tr style='height:929.95pt'><td width=1106 valign=top style='width:552.85pt;padding:0cm 5.4pt 0cm 5.4pt;height:929.95pt'><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%'><b><span style='font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-family:"Candara",sans-serif;background:white'>Harare (January 12, 2022) -</span></b><span style='font-family:"Candara",sans-serif;background:white'> </span><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>On a Date with a listed company on the Zimbabwe Stock Exchange (ZSE)</span></b><b><span style='font-family:"Candara",sans-serif'><o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Dating is a critical stage to any investor considering to take a position on any asset class even shares. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>On a Date with Meikles Limited<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#1. History <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>1892, the Meikles brothers led by Thomas open a trading business in Masvingo.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>1893, an additional store is opened in Harare with more in Bulawayo, Gweru and Mutare. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>1915, Thomas opens the Meikles Hotel in Harare after 2 years of construction.</span><span style='font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white;mso-fareast-language:EN-ZW'><img width=902 height=602 id="Picture_x0020_9" src="cid:image001.jpg@01D807DA.47511230"></span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>1937, Meikles is incorporated in Zimbabwe. 2 years later Thomas dies. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>1996, listing on the ZSE with a secondary listing on the London Stock Exchange. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>2021, Planning to unbundle its agricultural unit Tanganda Tea and list it separately.</span><span style='font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#2. Operations<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Meikles is an investment holding company. <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Its units operate in these sectors:-<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>1. Retail <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>2. Hospitality <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>3. Property <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>4. Security Services <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>5. Agriculture<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#3. Retail <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>51% of TM PicknPay Supermarkets is owned by Meikles 49% controlled by PicknPay Group of South Africa linked to Raymond Ackerman. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>56 stores in the major cities and towns of Zimbabwe using the TM PicknPay brands.</span><span style='font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><img width=900 height=600 id="Picture_x0020_8" src="cid:image002.jpg@01D807DA.47511230"></span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#4. Hospitality <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Victoria Falls Hotel <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>50-50 joint venture with African Sun to operate the hotel <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>The property is leased from National Railways of Zimbabwe. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Cape Grace Hotel 35% of Mentor Africa is owned by Meikles which owns 100% of the hotel.</span><span style='font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><img width=903 height=564 id="Picture_x0020_7" src="cid:image003.jpg@01D807DA.47511230"></span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#5. Property <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Thomas Meikles Properties<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>The unit has a number of properties in Harare, Bulawayo, Gweru, Masvingo and Mutare. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Previously the properties were sole used by Meikles in its trading businesses such as the ceased Departmental stores.</span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><img width=903 height=508 id="Picture_x0020_6" src="cid:image006.jpg@01D807DA.47511230"></span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#6. Security Services <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Meikles Guard Services <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>The unit provides in-house and third party security guard services and electronic security services across Zimbabwe. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>The main customer of the unit is TM PicknPay Supermarkets thereby directly affecting the unit.</span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><img width=902 height=424 id="Picture_x0020_5" src="cid:image007.jpg@01D807DA.47511230"></span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#7. Agriculture <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Tanganda Tea Company<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'> Divided into 2 – <o:p></o:p></span></b></p><p class=MsoListParagraphCxSpFirst style='margin-bottom:0cm;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;text-indent:-18.0pt;line-height:150%;mso-list:l0 level1 lfo1'><![if !supportLists]><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><span style='mso-list:Ignore'>1.<span style='font:7.0pt "Times New Roman"'> </span></span></span></b><![endif]><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Agricultural Division <o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='margin-bottom:0cm;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Operates 5 estates in Chipinge which grow,<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:72.0pt;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;text-indent:-18.0pt;line-height:150%;mso-list:l1 level1 lfo2'><![if !supportLists]><span style='font-size:12.0pt;line-height:150%;font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Tea <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:72.0pt;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;text-indent:-18.0pt;line-height:150%;mso-list:l1 level1 lfo2'><![if !supportLists]><span style='font-size:12.0pt;line-height:150%;font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Coffee<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:72.0pt;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;text-indent:-18.0pt;line-height:150%;mso-list:l1 level1 lfo2'><![if !supportLists]><span style='font-size:12.0pt;line-height:150%;font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Avocados<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:72.0pt;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;text-indent:-18.0pt;line-height:150%;mso-list:l1 level1 lfo2'><![if !supportLists]><span style='font-size:12.0pt;line-height:150%;font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Macadamia Nuts <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:0cm;margin-right:0cm;margin-bottom:0cm;margin-left:72.0pt;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='margin-bottom:0cm;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white;mso-fareast-language:EN-ZW'><img width=903 height=508 id="Picture_x0020_4" src="cid:image008.jpg@01D807DA.47511230"></span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='margin-bottom:0cm;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='margin-bottom:0cm;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;text-indent:-18.0pt;line-height:150%;mso-list:l0 level1 lfo1'><![if !supportLists]><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><span style='mso-list:Ignore'>2.<span style='font:7.0pt "Times New Roman"'> </span></span></span></b><![endif]><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Beverage Division <o:p></o:p></span></b></p><p class=MsoListParagraphCxSpLast style='margin-bottom:0cm;margin-bottom:.0001pt;mso-add-space:auto;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Blending and packaging of Tea on a plant in Mutare.</span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#8. Competitors <o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>OK Zimbabwe <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Choppies <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Spar <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Ariston Holdings <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Arda's Katiyo Tea <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Eastern Highlands Plantation <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Buzi Tea Company<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Rainbow Tourism Group <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Cresta Hospitality <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Mashonaland Holdings <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>First Mutual Properties <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Securico <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Fawcett</span><span style='font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><img width=902 height=508 id="Picture_x0020_3" src="cid:image009.jpg@01D807DA.47511230"></span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#9. Shareholding<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'> 47.08% of Meikles is owned by Gondor Capital which is the investment vehicle of the Meikles family <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>9.75% is owned by Mega Market a local manufacturer of popular FMCG brands based in Mutare <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>8.20% controlled by Old Mutual Life Assurance.</span><span style='font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>#10. Share Price 2022<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>125.05 ZWL as at 12 January 2022. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>YTD Gain /loss 0.00%<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>31,593,392,304 ZWL Market Capitalisation<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'>125.05 ZWL Year High<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'>125.05 ZWL Year Low<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><i><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>391% 2021 YTD return vs ZSE ALSI 312%<o:p></o:p></span></i></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'>#11. Pitch<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'>Meikles Limited has gone through a number of cycles in Zimbabwe but remaining resilient.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'>Unbundling of Tanganda Tea Company which has diversified its crops from Tea only to Avocado and macadamia nuts.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'>Working to unlock value in its properties<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'>#12. Disposals<o:p></o:p></span></b></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'>2020, Meikles Hotel is sold off to ASB Hospitality Zimbabwe for USD20,000,000, a subsidiary of Dubai based Albwardy Investment.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'>The hotel was a 5 star which boasted of 312 bed. It was a key attraction for city held meetings and conferences.<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><img width=825 height=551 id="Picture_x0020_2" src="cid:image010.jpg@01D807DA.47511230"></span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>The group sold off a city centre building, Ninety Speke. Ninety Speke was once used to launch the failed wholesale business, Meikles Mega Market.</span><span style='font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><img width=903 height=677 id="Picture_x0020_1" src="cid:image011.jpg@01D807DA.47511230"></span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Each fortnight will be on a DATE with a company listed on the ZSE with Martin Mataga <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><a href="https://twitter.com/MartinMataga">https://twitter.com/MartinMataga</a>. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>The purpose of this thread is to have a minimum appreciation of listed firms. <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:150%'><b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>Disclaimer</span></b><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif;background:white'>: Do not misconstrue this thread as investment advice. DATE companies before you buy their shares.</span><span style='font-size:12.0pt;line-height:150%;font-family:"Candara",sans-serif'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><i><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>Invest Wisely!<o:p></o:p></span></i></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><b><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>Bulls n Bears </span></b><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>Telephone: <a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='color:windowtext;text-decoration:none'>+263 77 344 1674</span></a> | +27 71 544 4769<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>Alt. Email: <a href="mailto:info@bulls.co.zw"><span style='color:windowtext;text-decoration:none'>info@bulls.co.zw</span></a> <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>Website: <a href="http://www.bullszimbabwe.com"><span style='color:windowtext;text-decoration:none'>www.bullszimbabwe.com</span></a> <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>Blog: <span style='color:#1F497D'> </span> </span><span class=MsoHyperlink><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;color:windowtext;text-decoration:none'>www.<a href="https://bullszimbabwe.com/category/blogs/"><span style='color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'>bullszimbabwe.com/category/blogs/</span></a></span></span><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>Twitter: @bullsbears2010<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>LinkedIn: Bulls n Bears Zimbabwe<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%;background:white'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>Facebook: <a href="http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA" target="_blank"><span style='color:windowtext;text-decoration:none'>www.facebook.com/BullsBearsZimbabwe</span></a><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%'><span style='font-size:10.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'>Skype: <span style='color:#1F497D'> </span> Bulls.Bears <o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%'><span style='font-size:9.0pt;line-height:115%;font-family:"Candara",sans-serif;mso-fareast-language:EN-ZW'><img border=0 width=554 height=270 id="_x0000_i1026" src="cid:image012.png@01D807DA.47511230" alt="cid:image003.png@01D70F49.B9215E40"><o:p></o:p></span></p></td></tr><tr style='height:929.95pt'><td width=1106 valign=top style='width:552.85pt;padding:0cm 5.4pt 0cm 5.4pt;height:929.95pt'><p class=MsoNormal style='margin-bottom:0cm;margin-bottom:.0001pt;text-align:justify;line-height:115%'><b><span style='font-family:"Candara",sans-serif;background:white'><o:p> </o:p></span></b></p></td></tr></table></td></tr></table></div><p class=MsoNormal style='text-align:justify'><span style='font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span style='font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span style='font-family:"Candara",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span style='font-family:"Candara",sans-serif'><o:p> </o:p></span></p></div></body></html>