Our team acts for a leading South Africa-based financial advisory services company
Our team acts for a leading South Africa-based financial advisory services company
Our team acts for a leading South Africa-based financial advisory services company in opposing a class action suit launched against several respondents who represent classes of shareholders in a defunct manufacturing and retail group.
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by Andrew Giliam, Jesse De Jager and Jenny Harwin
Section 48 overhauled: Simplifying buybacks, but not without hurdles
For years, section 48 of the Companies Act 71 of 2008 (Act) has been the fussy relative of corporate law, transforming a simple share buyback into a full-scale family meeting, complete with special resolutions and expert reports. The recent amendments to the Act have given section 48 a welcome refresh. However, while the section takes two steps forward, by dispensing with the dreaded section 114 and 115 procedures, it has also taken one step back as now almost every buyback requires a special resolution ofshareholders.
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8 Oct 2025
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