Why is privacy and data protection so important?
Personal data has arguably become the greatest asset of our generation. Given the rapid rise of innovative technologies, cloud mobility, and the internet of things, companies are becoming increasingly aware of the regulatory considerations regarding their use, storage, and cross-border transfer of personal data. Non-compliance can have significant financial and reputational repercussions.
Introduction
Employee share schemes (ESS) or more frequently referred to as an Employee Share Option Plan (ESOP), are tools used by business owners to grant eligible employees the opportunity to acquire shares or share options in the company they work for.
Board Meetings, Resolutions, Quorums and Voting Explained
Introduction:
When it comes to the control of a company, the Companies Act, 71 of 2008 (“the Act“) expressly provides that the business and affairs of a company must be managed by or under the direction of the board of directors (“the Board“). The Shareholders own the company and appoint the Board. When decisions need to be made on behalf of the company, the directors must pass different types of board resolutions. The Board has a fiduciary duty to manage the affairs of the company in the best interests of shareholders.
When high-growth companies issue shares, there are typically two parties receiving shares: founders and investors. Founders own ordinary shares and investors are issued preference shares in return for their investment, but what are these preference shares?
The Companies Act, 71 of 2008 (“the Companies Act “), has brought a significant change in the manner South Africa implements and perfects mergers and amalgamations. With a complete paradigm shift, it aligned South Africa with international best practices and the statutory merger provisions adopted a U.S. style approach in relation to the requirements and procedures. This article takes a look at the requirements as set out in section 113 read with section 115 of the Companies Act.
Registering a business in South Africa has become so easy – the need to leave your house and stand in never-ending queues is long gone in our technologically-advanced world. Below, we have laid out a step-by-step DIY on how to register your company simply by using the Companies and Intellectual Property Commission (CIPC) website portal, www.cipc.co.za.
An Employee Share Ownership Plan (ESOP) allows SMEs and Start-ups to award shares or share options to key employees and members of their team. This is a creative tool used by many companies who are struggling to keep up with the counterpart corporate salaries being offered and struggling to attract and retain top talent.
Introduction
A shareholders’ agreement governs and formalises the relationship between the shareholders and directors of a company. It is an invaluable document for any business as it provides the foundation for how a company will be run.
While every shareholders agreement differs, there are several key provisions every shareholders agreement should have.
When a company needs to raise more funds, it can either take out a loan (debt financing) or issue more shares in exchange for funds (either through a public or private issue of shares).
In this article we will focus on actions taken on behalf of a trust, yet to be formed.
By way of example:
We often receive the question from our clients: “Do I need a trust?”
Answering this question will depend on the client’s specific need for the trust, his current business and family structure as well as his financial and personal portfolio.
A recent report retrieved by Lightstone, providers of property data analytics, suggests that most (57% to be exact) buyers of second properties, purchase these properties in the same province as their first property.
