Edmunds and Another v Supreme Mouldings Investments (Pty) Ltd and Another (2021/36175) [2023] ZAGPJHC 635 (5 June 2023)
Court
South Gauteng High Court, Johannesburg
Case number
2021/36175
Judge
Gilbert AJ
Minority shareholders sought repurchase relief under section 163 after irregular financial assistance transactions. The High Court dismissed the application, finding no unfair prejudice shown.
Inhouse Venue Technical Management (Pty) Ltd and Others v Omar and Another; In re: Omar v Inhouse Venue Technical Management (Pty) Ltd and Others (13902/2015) [2016] ZAWCHC 18 (26 February 2016)
Court
Western Cape High Court, Cape Town
Case number
13902/2015
Judge
Koen AJ
The court held that the proper interpretation of the prior order is that the chartered accountant, in determining the fair market value of Omar's shares, must take into account the contraventions of section 75 of the Companies Act in respect of purchases from related parties, rental paid to related parties, and management fees. However, this does not mean that such expenses must be excluded entirely from the valuation. Instead, the accountant is required to attribute market related values to these transactions, substituting actual expenses only if they are not market related. The purpose of s…
