HOW TO DIFFERENTIATE BETWEEN A SHARE BUY BACK AND A SCHEME OF ARRANGEMENT
Since the commencement of the Companies Act No. 71 of 2008 (“Companies Act”), companies and their legal advisors have been plagued by the question as to whether or not all share buy back transactions in excess of 5% (five percent) of the company’s issued share capital...
REMEDIES AVAILABLE TO AGGRIEVED MINORITY SHAREHOLDERS
Background: The Companies Act No. 71 of 2008 (“Companies Act”), provides certain mechanisms to aggrieved minority shareholders of a company which can be utilised when such shareholders wish to seek relief. It is not rare for minority shareholders to find themselves in...
TAKEOVER REGULATION PANEL APPROVAL FOR AGREEMENTS RELATING TO THE DISPOSAL OF A GREATER PART OF THE ASSETS OR UNDERTAKING OF A COMPANY
Sale of asset and sale of business agreements are commonly found in the South African commercial landscape and the provisions of the Companies Act No. 71 of 2008 (“Act”) are closely linked with such agreements. More specifically, there are specific provisions of the...