Exam (elaborations)
LML4806 Assignment 1 (Semester 1) - Due: March 2024
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LML4806 Assignment 1 (Semester 1) - Due March 2024
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LML4806ASSIGNMENT 1 (SEMESTER 1)
DUE: MARCH 2024
PREVIEW:
Question: 1
Mandla is both a director and shareholder of Cargo Logistics Ltd. He wants to buy
more shares in Cargo Logistics Ltd but does not have enough money to do so. He
offers to rent out a warehouse to Cargo Logistics Ltd. Cargo Logistics Ltd agrees
to pay R1.2 million per annum as rent for the warehouse. Mandla then uses part of
the money to purchase 10 000 shares in Cargo Logistics Ltd.
With reference to the relevant case law, statutory provisions and the facts provided
in the above scenario, discuss whether Cargo Logistics Ltd has provided financial
assistance for the purchase of its securities. (6)
STUDENT GYDE
GUIDING
In analysing whether STUDENTS
Cargo Logistics ON THEIR
Ltd has provided ACADEMIC
financial assistance for the
purchase of its securities, we need to consider relevant case lawJOURNEY
and statutory
provisions, particularly those related to financial assistance provided by a company
for the acquisition of its own shares.
1. Company Law and the Companies Act:
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