SU 4: Shareholders, Organs and Officers
Shareholders
Shareholder : person one/more shares in and is registered in the
companys certified/uncertified
·
a who arns a
company
shares register
who can be a shareholder ?
-
Natural individual human
person >
- an
being
- Juristic person legal entity such as another
> a
-
, company
·
People who start/incorporate companies and invest in companies can become shareholders.
When does someone cease to be a shareholder ?
A person to be shareholder because of :
may cease a
Death
-
insolvency
-
Dissolution of the company
-
Transfersale of their shares to another person
-
.
Certified and Uncertified shares
Certified Shares
·
Shares that are evidenced by a physical share certificate
Share certificate contains:
·
Name of the company
-
-
Name of shareholder
Number and class of shares
-
Restrictions transfer of shares
-
on
uncertified shares
·
shares that do not have a physical certificate and are recorded electronically
·
STRATE
-
in 1997 the JSE established the STRATE system
it replaced the manual administration and transfer of uncertificate/dematerialised shares
-
Records are maintained
by Central Securities Depository (CSD)
-
a
Major banks act as CSD participants
-
can
, Securities Register
The securities
register records information about the companys securities/shareholders
·
.
Nominee shareholder : A person/entity registered as the holder of shares behalf of another person
·
on
·
Beneficial Shareholder : The person who actually enjoys the benefits/rights of the shares ,
even if someone else
is registered as the holder.
·
Person with beneficial interest: A person who has a financial or other beneficial interest in the shares
Disclosure
In nominee must disclose :
·
a
public company , a
The of the beneficial shareholder/person with beneficial interest
identity
-
The extent of their interest
-
Companies that must maintain a disclosure register :
·
Public companies
·
state-owned companies
Private companies that sold 10% or more of their shares
during the previous 24 months
Private companies whose shares are subject to Takeover Regulations through their Moz
Private companies controlled by or subsidiaries of, regulated/affected companies
·
, .
Transfer of Shares
· The transfer of a personal right from the cedent to
·
How are shares transferred ? the cessionary
.
↳ A share is a
personal right and is transferred by cession .
cedent
person transferring the right
:
cessionary :
person receiving the right.
Rights that can be transferred :
·
Right to receive dividends when declared
-
Right to participate in meetings and vote
-
Right to share in the companys net asset value when the company is wound
-
up .
Transfer of shares =
Registration of the transfers
the actual transfer of shares and of the transferce
Registration separate processes
-
are
* .
for the transfer itself
Registration is not required
Shareholders
Shareholder : person one/more shares in and is registered in the
companys certified/uncertified
·
a who arns a
company
shares register
who can be a shareholder ?
-
Natural individual human
person >
- an
being
- Juristic person legal entity such as another
> a
-
, company
·
People who start/incorporate companies and invest in companies can become shareholders.
When does someone cease to be a shareholder ?
A person to be shareholder because of :
may cease a
Death
-
insolvency
-
Dissolution of the company
-
Transfersale of their shares to another person
-
.
Certified and Uncertified shares
Certified Shares
·
Shares that are evidenced by a physical share certificate
Share certificate contains:
·
Name of the company
-
-
Name of shareholder
Number and class of shares
-
Restrictions transfer of shares
-
on
uncertified shares
·
shares that do not have a physical certificate and are recorded electronically
·
STRATE
-
in 1997 the JSE established the STRATE system
it replaced the manual administration and transfer of uncertificate/dematerialised shares
-
Records are maintained
by Central Securities Depository (CSD)
-
a
Major banks act as CSD participants
-
can
, Securities Register
The securities
register records information about the companys securities/shareholders
·
.
Nominee shareholder : A person/entity registered as the holder of shares behalf of another person
·
on
·
Beneficial Shareholder : The person who actually enjoys the benefits/rights of the shares ,
even if someone else
is registered as the holder.
·
Person with beneficial interest: A person who has a financial or other beneficial interest in the shares
Disclosure
In nominee must disclose :
·
a
public company , a
The of the beneficial shareholder/person with beneficial interest
identity
-
The extent of their interest
-
Companies that must maintain a disclosure register :
·
Public companies
·
state-owned companies
Private companies that sold 10% or more of their shares
during the previous 24 months
Private companies whose shares are subject to Takeover Regulations through their Moz
Private companies controlled by or subsidiaries of, regulated/affected companies
·
, .
Transfer of Shares
· The transfer of a personal right from the cedent to
·
How are shares transferred ? the cessionary
.
↳ A share is a
personal right and is transferred by cession .
cedent
person transferring the right
:
cessionary :
person receiving the right.
Rights that can be transferred :
·
Right to receive dividends when declared
-
Right to participate in meetings and vote
-
Right to share in the companys net asset value when the company is wound
-
up .
Transfer of shares =
Registration of the transfers
the actual transfer of shares and of the transferce
Registration separate processes
-
are
* .
for the transfer itself
Registration is not required