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Shareholders Agreement South Africa Doc

A company`s shareholder contract can be revived at any time, but is usually revived when the relationship between shareholders and directors changes. It takes over where corporate law stops. 1.1. The titles of the clauses contained in this agreement serve only for convenience and reference and cannot be used in interpretation, amendment, extension of the terms of this Agreement or a clause of this Agreement. 10.3. Dividend payments depend on the company`s directors` belief that the solvency and liquidity requirements required by law have been met and that shareholders are in good faith satisfied with the requirement of prudence with respect to the company. A shareholders` pact is used to regulate relations between the different parties as shareholders and often also in their positions as managers of a company. 4.2. The provisions of this Agreement prevaltely in any contradiction between the provisions of this Agreement and the Memorandum or Statutes of the Society. 10.2. Shareholders expect the company to distribute dividends for each of its fiscal years. No shares may be issued except through a rights offer proportional to all shareholders on that date. If a shareholder does not respect his rights, he is deemed to have renounced the other shareholders who follow their rights in the same proportions as their rights.

Shareholders accept that if a shareholder does not have the financial means to follow his rights, the obligation to issue preferential rights does not constitute unjustified, unjust or unjust conduct. If no evaluation method has been defined in the agreement, it is often impossible to induce two parties to agree on a value at a later stage. This is particularly relevant when an existing party sells to another existing party, since the buyer and seller are on opposite pages. Legal disputes between shareholders with various experts involved in determining value are unfortunately common.