It has been reported that Hermes, the UK based fund manager, has criticised the provisions concerning pre-emption rights in the Companies Bill. Hermes' concerns relate to Section 39 which provides that public company shareholders will only have pre-emption rights if this has been explicitly provided for in the company's memorandum of incorporation. Click here for further information. South Africa: company law reform - the Companies Bill and shareholders' pre-emption rights
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It has been reported that Hermes, the UK based fund manager, has criticised the provisions concerning pre-emption rights in the Companies Bill. Hermes' concerns relate to Section 39 which provides that public company shareholders will only have pre-emption rights if this has been explicitly provided for in the company's memorandum of incorporation. Click here for further information. Spread The Love, Share Our Article
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