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When must a director disclose a financial interest?

08 February 2022

Being a director in a company does not necessarily stop you from holding shares in other companies. However, should your... company transact with another company in which you have a shareholding stake and from which you could potentially benefit, it becomes important that you disclose such financial interest to your co-directors, even if you can’t influence the transaction.

381

Article

Skills Development remains a vital aspect in your BEE planning

16 April 2021

Our company falls under the Generic BEE Codes. As we are 51% Black-owned but under R50 million turnover we have... not undergone BEE verification but relied on a signed BEE affidavit confirming that we are an automatic level 2 B-BBEE contributor. Now it appears we may exceed the R50 million mark this year and have to verify as a Generic Enterprise. As HR manager I have now been tasked with getting our skills development planning in place should we need to verify. Where do I start?

368

Article

What Covid tax relief measures can my company qualify for?

06 January 2021

I have a construction company which has been hard hit by the Covid-pandemic and although I have managed to keep... our doors open and not retrench my employees, we are in dire straits. I understand that there are some tax relief measures which I can access to assist my company. Is this true?

392

Article

The rights of a dissenting shareholder in a scheme of arrangement

10 November 2020

I’m a minority shareholder in a company that has been approached by a buyer willing to buy out all the... shareholders. Because of Covid-19 the company has suffered financially and I know that the shareholders holding more than 75% of the company will want to accept the offer even though I believe it to be far below the market value of the shares. Is there any remedy at my disposal?

395

Article

Minority shareholder rights in a private company

12 October 2020

I hold 20% shares in a private company that I bought into a few years ago. The majority shareholders heavily... influence the directors who take decisions which in my view is not always in the best interests of the company or my own as a minority shareholder in the company. What remedies are available to me?

331

Article

Validity of lock-in provisions in BEE transactions

11 September 2020

A few years ago, our company entered into a BEE transaction with BEE partners to address our ownership. In the... transaction documents, restrictions were imposed on the BEE partners that they could not sell or encumber their shares for a period of at least ten years. These lock-in provisions were a necessary part of the financing and overall transaction. With the current difficult economic times, our partners want to sell a portion of their shares and are disputing the validity of our lock-in provisions. Are lock-in provisions legally enforceable?

432

Article