High Court's decision to place Comair under provisional liquidation

Don’t throw cautionaries to the wind: Navigating communication about potential affected transactions

In the context of “ affected transactions ”, which are transactions that are regulated in terms of the Takeover Regulations (see section 117(1)(c) of the Companies Act 71 of 2008 (Companies Act)), it is well-established and understood that the publication of a “ firm intention announcement ” (FIA) in respect of an affected transaction is a watershed event. The publication of an FIA triggers the commencement of the “ offer period ” (firm offer period) in respect of an affected transaction. From this point, the applicable offeror is bound to make a firm offer to the offeree-regulated company or its shareholders, as applicable, and to see the affected transaction to completion on and subject to the salient terms and conditions set out in theFIA. 

Update on Interim Grid Capacity Allocation Rules: Eskom clarifies guarantee requirements

On 3 November 2023, Eskom hosted a presentation to update industry on the implementation of the Interim Grid Capacity Allocation Rules (IGCAR). As discussed in our previous alert , the IGCAR were first released in June 2023, shifting the grid capacity allocation process from a ‘first come, first served’ approach to a new regime based on a ‘first-ready, first served’ principle.

Another draft Employment Equity economic sector targets: Have comments been considered?

Finance Bill, 2023: An analysis of the major tax proposals

The long-awaited Finance Bill, 2023 (Bill) was finally tabled before the National Assembly on 4 May 2023. The Bill comes after a lot of speculation by taxpayers, lobbying by business associations, and speeches or promises from government officials.

Annual increase to the national minimum wage – effective 1 March 2024

The National Minimum Wage Act 9 of 2018 (Act) was enacted to advance economic development and social justice by, inter alia, improving the wages of the lowest paid workers, and protecting workers from unreasonably low wages by establishing the national minimum wage (NMW).

Antenuptial contracts: I do/I don’t

In terms of the Matrimonial Property Act 88 of 1984 (Matrimonial Property Act), all marriages and civil unions entered into between parties are at present automatically deemed as being in community of property. In terms of this matrimonial property regime, the parties’ assets are pooled together to form one joint (communal) estate. The parties therefore become the owners of an undivided one-half share in and to each other’s respective estate, which is inclusive of all their assets and liabilities (debts).