HARARE – Meikles Limited has made an urgent chamber application at the High Court to challenge the Zimbabwe Stock Exchange’s decision to suspend it from trading on the bourse.

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Meikles says the ZSE did not follow due procedure when it made the announcement.

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Trading on the bourse remained subdued as counters such as DELTA and OK ZIMBABWE traded in the negative.

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Although validation is still taking place, the RBZ says Meikles is owed about US$76 million, an amount which could go down to $53 million if the discount factor is added.

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This is what led to the delisting of the counter on Monday.

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Trading was lackluster on the bourse as the industrial index dropped 0.42 points to close at 168.13 points.

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TSL retreated by 1.50 cents to trade at 25 cents and OK ZIMBABWE eased 0.80 cents to 13.20 cents.

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DELTA lost 0.50 cents to trade at 115.50 cents and PADENGA slid 0.10 cents to settle at 9.40 cents.

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The losses were partially offset by gains in DZLH and SEEDCO which increased by a cent each to close at 9 cents and 105 cents.

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INNSCOR added 0.80 cents to 59.80 cents.

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The mining index went down 0.47 points to close at 47.09 points.

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RIOZIM fell a significant 5 cents to close at 10 cents.

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BINDURA and FALGOLD were unchanged at 4 cents and 2.50 cents.

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HWANGE went up by 0.25 cents to 4.25 cents.