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Thread: CIPC, SARS, Share certificates, CM15 - Return of allotment of shares

  1. #11
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    hi Guys,
    I have a investment and financial services company with other partners, now we have demand for shares, so to issues shares , we have to send first a subscription agreement for the number and value of shares but now in the agreement I am writing , i am not quite sure about all the rights a shareholders have, if someone got a template for me will be much appreciated. Thanks!

  2. #12
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    The MOI describes the rights per class of shares, so that should be your source. Normally the proposed subscribers will have the MOI and you agreement just states the class of share being offered.

    There is also no allotment form CM15 anymore. Just make sure that you have a board resolution for the amount of shares per subscriber, who must be named, and the consideration. Nothing more is required.

    Lastly be very sure certificates (if you opt for certificated shares) are issued after the money is in the bank. The same applies to the register of securities.

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    tia-jontel (21-Sep-15)

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    Thank you very much

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    Good day

    Can anyone assist in advising:
    1) How to compile a share register
    2) Company is registered with CIPC in 2015, where can its share certifcate

    thanks.

  6. #15
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    As explained in the earlier posts, the directors issue the shares. The Act allows for both certificated shares as well as uncertificated shares. That means certificates are not obligatory (try telling a bank that), but the various registers are. Be aware that the Act actually provides for a maximum fine of R1m for non-compliance.

    There are a couple of places where you can get pre-printed ones. Here is one http://sadiaries.co.za/50-company-act-2008 but I am sure there are others, just google it.

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