LML4806 ASSIGNMENT 01 SOLUTIONS 2022
QUESTION 1
In terms of section 64 of the Companies Act 71 of 2008 (‘the Act’), a shareholders’ meeting
may not begin until sufficient persons are present at the meeting to exercise in aggregate at
least 25% of all the voting rights that are entitled to be exercised in respect of at least one matter
to be decided at the meeting. This is subject to the Memorandum of Incorporation of the
company which may specify a higher or a lower percentage instead of the 25% requirement.
In companies with more than two shareholders, at least three shareholders are required to be
present and the 25% requirement (or a different requirement if stated in the Memorandum of
Incorporation) must also be satisfied.
QUESTION 1
In terms of section 64 of the Companies Act 71 of 2008 (‘the Act’), a shareholders’ meeting
may not begin until sufficient persons are present at the meeting to exercise in aggregate at
least 25% of all the voting rights that are entitled to be exercised in respect of at least one matter
to be decided at the meeting. This is subject to the Memorandum of Incorporation of the
company which may specify a higher or a lower percentage instead of the 25% requirement.
In companies with more than two shareholders, at least three shareholders are required to be
present and the 25% requirement (or a different requirement if stated in the Memorandum of
Incorporation) must also be satisfied.
