,The board of directors of Titans Ltd (“the company”) has
determined that the company will acquire up to 5% of the
company’s issued shares from its various shareholders.
Some of these issued shares to be acquired by Titans Ltd
are held by its directors. Advise the board of directors of
the requirements under the Companies Act 71 of 2008
that must be complied with for Titans Ltd to acquire its
own issued shares from its various shareholders and
directors. Strada (pty) ltd will be holding its first annual
general at its registered office,the company's
memorandum if incorporation allows shareholders to
appoint proxies to represent them at Shareholders
meetings, subject to clause 10.3 of the Memorandum of
board of directors. About two hours before the meeting,
Busi has an emergency to which she must attend, which
makes it impossible for her to attend the annual general
meeting. With reference to the Companies Act 71 of
2008, case law and the facts above, advise Busi whether
she can validly appoint a proxy to exercise her right to
vote and to express her views at the annual general
meeting of Strada (Pty) Ltd. Also consider in your answer
whether clause 10.3 of the company's Memorandum of
Incorporation is a valid clause...Solomon is employed as a
driver of Apex Transport (Pty) Ltd. The company is
, financially distressed and has just been placed under
business rescue. Solomon is worried because he has not
yet been paid his salary for the previous month, before the
business rescue proceedings commenced. He is also
concerned that the business rescue practitioner may
change his terms and conditions of employment.. Big
Money Ltd . (io) intends to make a primary offer to the
public in order to raise funds. The directors of Big Money
Ltd are aware of certain information that could potentially
discourage the public from purchasing shares in Big
Money Ltd. After deliberation, the directors of Big
Money Ltd decide not to include that information in the
prospectus. With reference to the Companies Act 71 of
2008,
discuss whether the directors of Big Money Ltd can be
held personally liable to persons who acquire the
securities of Big Money Ltd a nd who may potentially
suffer loss or damage as a result of the omission of that
information from the prospectus. (io)
[Show less]
1. Acquiring Own Shares by Titans Ltd
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LightAcademy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R48,39. You're not tied to anything after your purchase.
