MIK Meikles Limited

 
TIDMMIK 
 
MEIKLES LIMITED 
 
                            NOTICE TO SHAREHOLDERS 
 
Shareholders are advised that Pick `n Pay Retailers (Proprietary) Limited 
("Pick `n Pay") is investing US$13 million into TM Supermarkets (Private) 
Limited ("TM") and in so doing Pick `n Pay is increasing its shareholding in TM 
from 25% to 49%. This investment by Pick `n Pay has received the approvals from 
the Reserve Banks of Zimbabwe and South Africa, the Ministry of Youth 
Development, Indigenisation and Empowerment, the Zimbabwe Investment Authority 
and the Competition and Tariff Commission. The Group would like to express its 
appreciation to all regulatory authorities for their assistance in this 
transaction. 
 
TM will utilise this US$13 million investment to update and refurbish existing 
stores and the public will notice changes in TM's supermarkets in the coming 
months. Pick `n Pay's increased shareholding in TM will see TM accessing Pick 
`n Pay's buying strength, where necessary, as it is TM's intention to increase 
its local supply base. In time there will be the establishment of a number of 
franchise operations which will create employment opportunities. The TM brand 
will be retained as it is a key brand in the market though certain strategic 
stores will be re-branded Pick `n Pay. Together both Pick `n Pay and Meikles 
will ensure that TM is adequately capitalised to fund its operations. 
 
Company Secretary 
 
2 December 2011 
 
 
 
END 
 

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