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SA Mohair Brokers Ltd v Louw and Others (602/10) [2011] ZASCA 87 (27 May 2011)
The Supreme Court of Appeal held that a share sale without prior director approval was not void, and that proxies from registered shareholders had to be accepted.
Smuts v Booyens, Markplaas (Edms) Bpk en 'n Ander v Booyens (222/99, 257/99) [2001] ZASCA 57; [2001] 3 All SA 536 (A); 2001 (4) SA 15 (SCA) (2 April 2001)
The Supreme Court of Appeal held that the restrictions on share transfer contained in the articles of Markplaas (Edms) Bpk, derived from Table B of Schedule 1 of the Companies Act, created an absolute bar to the transfer of shares to a third party unless the prescribed procedure was strictly followed. These restrictions were not merely personal rights but statutory and contractual limitations that formed an original incident of the shares themselves. The right to transfer shares was limited from inception, and absent compliance with the procedure, no rights could vest in the transferee, regar…
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