Shareholders’ right to company information

The shareholders of a profit company, has a right, in accordance with section 26 of the Companies Act, Act 71 of 2008 (hereinafter the “Act”) to inspect and copy, without any charge, the information contained in the following records of the company: the company’s Memorandum of Incorporation and any amendments thereto, and any rules made […]

Removal of directors without reason

Section 71 of the Companies Act, 2008 (herein the “Act“) allows for shareholders to vote on the removal of a director. Despite anything to the contrary in a company’s Memorandum of Incorporation or rules, or any agreement between a company and a director, or between any shareholder and a director, a director may be removed […]

Share-buy-backs and the takeover regulation panel: Fundamental principles revisited

Albeit that the exiting shareholder cannot procure an interested third-party buyer or that the company wish to prevent a competitor from acquiring shares in its operations, it is more often than not, that a private profit company may elect to re-acquire an exiting shareholder’s equity. However, when a private profit company elects to repurchase the […]

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