Shareholders' Agreement to be consistent with the Companies Act and a company's Memorandum of Incorporation
A Shareholders' Agreement is a private document that deals with all the issues relating to the shareholders of a company.
Section 15(7) of the Companies Act, Act 71 of 2008, as amended, states that:
Shareholders may enter into any matter relating to the Company, but any such Agreement must be consistent with this Act and the Company's Memorandum of Incorporation.
Consequently, all existing Shareholders' Agreements are not consistent with the 2008 Companies Act.
OnlineMOI is pleased to advise that it has developed a Shareholders' Agreement that lines up with the new Companies Act as well as the various Memorandums of Incorporation on offer right here.
The special features of the OnlineMOI Shareholders' Agreement include:
- Shareholders' Resolutions
- Shareholders' Meetings and Notice of Meetings
- Quorum, Conduct, Postponement and Adjournment relating to Shareholders' Meetings
- Transfer of Shares and Pre–emptive Rights
- Come along and Tag along clauses
- Relationship of the parties
- Dispute resolution
- Encumbrance of shares and claims
- Deemed offers
- Breach, Warranties and Representations
- Release from Surety obligations
- Benefit of the Agreement
- Confidentiality and Publicity
- Notices and Domicilia
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