Minority shareholders appraisal rights in South African commercial law

Minority_ShareholdersIn South African commercial law the Companies Act, Act 71 of 2008 (hereafter “the Act”), provides various remedies for the protection of minority shareholders. This article will focus on one such remedy provided in section 164 of the Act,  being the dissenting shareholder’s appraisal right.

In short section 164 allows a dissenting shareholder to elect to be bought out by the company, in which he holds shares, for the fair value of his shares. The dissenting shareholder will only be able to do so when the majority of the shareholders of the company pass a resolution to:

  1. Amend the company’s Memorandum of Incorporation by altering the preferences, rights, limitations or other terms of any class of its shares in any manner materially adverse to the rights or interests of holders of that class of shares or;
  2. Enter into a transaction contemplated in section 112, 113 or 114 (being to dispose of all or the greater part of the assets, proposal for amalgamation or merger or proposal for a scheme of arrangement).

read more

 

There are many medicines. Certain medicines are pop. Other treat peculiar ailment like Lupus nephritis. DIFLUCAN, one of of a new group of triazole antifungal agents, is available as a powder for oral suspension. There are numerous drugs for each afflictions. If you’re concerned about erectile health problem, you probably know about levitra 10mg. Very likely every man knows about levitra cost per pill. (Read more cheapest generic levitra). Once people are looking for drugs to determination sexual soundness problem. On occasion another disease will lead to erectile dysfunction. There are risks possible with any type of therapy. Certainly you need to take dangerous side effects in consideration before purchasing any physic. Get in touch with your body and stay healthy for long years.

, , , ,

No comments yet.

Leave a Reply

25 − = 16