Tag: shareholder

Read our exclusive cover story titled Shareholder rights - power without responsibilities, obligations or duties! by Michael Judin, Partner, Judin Combrinck Inc, plus a host of other topical management articles written by professionals, consultants and academics.

The Companies and Intellectual Property Commission (CIPC) has introduced new obligations for reporting beneficial ownership information. The deadlines are tied to each company’s date of inception. Businesses must declare their beneficial owners within 30 days of their anniversary date, similar to annual return filings.

In a world of viral ideas and emotions, who gets to control the narrative? Who gets to be heard? What does power really cost? This is the story of Elon Musk's showdown with Twitter. It explores how the richest man on earth came to control one of the world's most powerful media platforms.

The Companies and Intellectual Property Commission (CIPC) is pleased to announce that it is planning to establish and implement a beneficial ownership (BO) register to be released upon approval of the regulations, pursuant to the commencement of the General Laws Amendment Act, 2022, that was signed into law by the President of the Republic of South Africa on 29 December 2022.

At its origin, Broad Based Black Economic Empowerment (BBBEE) was intended to fulfil several critical objectives linked to transformation in the workplace, stemming from the immensely negative impact that Apartheid had wreaked on Black Civil Society in South Africa.

The removal of a director, by way of the shareholders’ inherent right to do so by an ordinary resolution, (section 71 of the Companies Act 2008) is the typical initial go-to remedy when a breakdown in the relationship amongst shareholders and directors arise.

The Memorandum of Incorporation (MOI) is a cornerstone document for any company, laying out the rights, responsibilities and duties of shareholders and directors. It is obligatory that every company has an MOI filed with the Companies and Intellectual Property Commission (CIPC) and it is available for public viewing at a small fee.

Business partnerships end for a number of reasons. Some are friendly and in the best interest of both parties - while others reach a bitter, nasty end. Even the COVID-19 pandemic and related lockdown has forced directors to evaluate their interests and involvement.

On 26 June 2020, the High Court in Johannesburg dismissed with costs an application for the certification of a class action by Steinhoff shareholders against the directors and auditors of Steinhoff companies, having determined that the shareholders do not have a triable case. 

Shareholders in SA, Zimbabwe and Malawi will be paid out this week, while UK shareholders will receive payment at the end of the month.