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Unpacking some thoughts around share buyback transactions

A share buyback transaction is utilised when a company purchases its shares from shareholders. This is in contrast with a sale between shareholders. The shareholder’s agreement governs the sale of a private company’s shares. In most instances, several pre-emptive…

Provided By SchoemanLaw Inc

by Robyn Shepherd

Share buybacks – The latest the do’s and don’ts

Section 48 of the Companies Act 71 of 2008 as amended (the “Companies Act” or the “Act”) makes provision for the reacquisition by a company of its own shares. Section 48(8)(b) of the Act provides that a decision by the board of a company to …

Provided By SchoemanLaw Inc

by Nicolene Schoeman-Louw

Good news and not so good news for companies undertaking share buybacks

Section 48 of the Companies Act 71 of 2008 (Companies Act) makes provision for the reacquisition by a company of its shares. Section 48(8)(b) provides...

by Murendeni Mashige and Yaniv Kleitman

Drafting of share buyback agreements – Important considerations

In this article, we have a high-level look at some of the important aspects that must be kept in mind when drafting a Share Buyback...

Section 164 Companies Act: A guide for navigating the treacherous terrain of s164 in the era of shareholder activism and opportunism

It’s no secret that 2018 was a difficult year for investors on the JSE. The JSE All-Share Index lost around 15% of its value during...

by Peter Hesseling and Dane Kruger

Deal or no deal? Nine questions to ask when doing an M&A deal

In South Africa’s highly regulated corporate environment, anyone wanting to implement a transaction will have to keep their wits about them in making sure that...

by Etta Chang and Roxanne Bain

Potential Companies Act amendments

On Friday, 21 September 2018 the Department of Trade and Industry published the draft Companies Amendment Bill 2018 for comment. Comments close on 20 November...

by Lauren Kelso

Budget 2018 – Key changes

The 2018 Budget was presented by Minister Malusi Gigaba before parliament on 21 February 2018. The 2018 tax proposals are projected to raise ZAR36 billion. The key...

by Natalie Napier

National Treasury shows some flexibility on share buy-back rules (but not a lot)

The Taxation Laws Amendment Bill (TLAB), released on 25 October 2017, proposes measures intended to target certain share buy-back and dividend stripping arrangements. Exempt dividends...

by Joon Chong and Wesley Grimm

Share buy-back transactions

Share buy-backs have become a very common mechanism for exiting an investment in a South African company since the introduction of dividends tax in April...

by Kelly Pretorius

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