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The High Court allowed a company to compulsorily sell untraceable shareholders’ paid-up shares, subject to strict notice, publication, auction, and reporting safeguards.
The High Court allowed compulsory sale of untraceable shareholders’ paid-up shares, subject to strict notice, publication, valuation, auction, and trust conditions.
Probate administrators of a deceased shareholder may be registered as members of the company and the deceased's name removed from the register, but further orders for making entries or notifying the Registrar require strict proof of untraceability of other shareholders, which was not sufficiently established in this case.
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