Contact

Unpacking the Companies Act amendments 2024 | Share buy backs

Back to top

Unpacking the Companies Act amendments 2024 | Share buy backs

Section 48(8) of the Companies Act, which deals with share buy backs, has undergone an overhaul, as explained by Yaniv Kleitman, Director in our Corporate & Commercial practice, in our webinar on the new Companies Act amendments.

24 Jan 2025 07:47 Minutes Podcast
Unpacking the Companies Act amendments 2024 | Share buy backs

Unpacking the Companies Act amendments 2024 | Share buy backs

Podcast

Unpacking the Companies Act amendments 2024 | Share buy backs

Podcast

00:00 00:00
Download MP3

Yaniv explained that in many respects the changes are welcome, as they bring clarity that a share buy back of more than 5% in terms of section 48(8) does not constitute a scheme of arrangement and therefore does not attract the application of takeover law. Further, Yaniv explained that all share buy backs in terms of section 48(8) now require a special resolution of the shareholders, unless pursuant to a pro rata offer or done on a stock exchange.   

For more information on the amendments to the provisions relating to share buy-backs, click here to listen

The information and material published on this website is provided for general purposes only and does not constitute legal advice. We make every effort to ensure that the content is updated regularly and to offer the most current and accurate information. Please consult one of our lawyers on any specific legal problem or matter. We accept no responsibility for any loss or damage, whether direct or consequential, which may arise from reliance on the information contained in these pages. Please refer to our full terms and conditions. Copyright © 2025 Cliffe Dekker Hofmeyr. All rights reserved. For permission to reproduce an article or publication, please contact us cliffedekkerhofmeyr@cdhlegal.com.

You might also be interested in

23 Oct 2024

by Alecia Pienaar

NERSA’s decision on Eskom’s curtailment application pending

In terms of a consultation paper released by the National Energy Regulator of South Africa (NERSA) on 5 July 2024 (Consultation Paper), Eskom submitted an application to NERSA on 24 May 2024 requesting approval for congestion curtailment to be treated as a constrained generation ancillary service for renewable energy resources (Application). Per the Consultation Paper, “ leveraging the intermittent nature of renewable energy resources, it becomes possible to connect more resources to the grid without exceeding the capacity of the grid for most of the time ”.

Projects & Energy

5 min read

3 Oct 2024

by Sammy Ndolo

Movable property laws set for major overhaul

Sammy Ndolo, Managing Partner in the CDH Kenya office was featured in the People's Daily Kenya where he discussed Movable property laws set for major overhaul .

Real Estate Law

1 min read

22 Jan 2025

by Jaco Meyer

Key considerations for investors in mining mergers and acquisitions in Africa

Africa’s mining sector presents significant opportunities, but it also comes with unique challenges for investors. It is being reshaped by both global and local forces, with international powers competing for valuable resources and regional initiatives enhancing trade and investment. The importance of navigating regulatory complexities, understanding shifting geopolitical dynamics, and embracing new technologies within this environment cannot be overstated.

Mining & Minerals

6 min read

17 Jul 2024

by Belinda Scriba

The difference between business rescue and liquidation

CDH believes that the conversation around business rescue is an important one that requires the regular sharing of insights that can potentially assist businesses make informed decisions, armed with expertknowledge. 

Corporate Debt, Turnaround & Restructuring

09:43 Minutes

7 Feb 2024

by Denise Durand and Jonathan Sive

Overlaps and oversight: Navigating mineral rights in South Africa

As the global economy begins to embrace the transition to green metals, ensuring certainty of mineral right tenure is crucial for the sustainability of these aspirations. The granting of ostensibly exclusive rights to multiple parties poses a significant challenge to role players in South Africa’s ever-fluctuating mininglandscape.  

Dispute Resolution

3 min read

31 Oct 2024

by Heinrich Louw

There is no greatness in your lateness: Not sticking to the Tax Court Rules in respect of discovery

Earlier this year, the Tax Court handed down judgment in the matter of CZY (In liquidation) v The Commissioner for the South African Revenue Service (Case No.: IT 45997) ( 27 February2024).  The matter related to an application for condonation filed by the taxpayer for the late submission of a Rule 36(6) notice, requesting further and better discovery from the South African Revenue Service (SARS).

Tax & Exchange Control

3 min read

This website uses cookies to enhance the browsing experience. For more information, please see our Cookie Policy.

Accept Decline