Legal document outlining terms between 3 or more shareholders, including ownership, management, and decision-making.
This Shareholders’ Agreement is intended to be used in conjunction with the Long Standard Form of the Memorandum of Incorporation for Profit Companies.
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Yes. The Word file is fully editable, so you can change the wording, add or remove clauses and insert your own details to suit your situation.
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Shareholders Agreement Contract Template - 3 or more Shareholders, Long Standard Form MOI Form - South Africa
R 1,080.87
A shareholders agreement template South Africa companies can use to set out how three shareholders work with each other, alongside the MOI.
Long Standard Form MOI for Profit Companies
Summary A Shareholders' Agreement may be considered for the mutual protection of shareholders in a private company incorporated for profit, and strives to ensure that all the shareholders understand their respective rights and obligations in relation to each other.
This Shareholders' Agreement is intended to be used with the Long Standard Form of the Memorandum of Incorporation for Profit Companies.
See also: Shareholders' Agreement - short form MOI
Why do I need a Shareholders' Agreement? A Shareholders' Agreement, amongst other things, strives to set out the procedure to be followed in respect of the appointment of Directors, Board and Shareholder meetings, the sale of shares, the commission of a breach, policies regarding loan accounts, and other company-related issues.
What does the agreement say? The Agreement consists of: Definitions and Interpretation; Introduction; Articles of Association; Working Capital; Loan Accounts and Indebtedness; Guarantees; Directors; Shareholders; Matters requiring Unanimous Consent; Value of Shares; Sale of Shares; Come Along; Tag Along; Transfer of Shares to Family; Forced Sales; Notices; Confidentiality; General.
What does the agreement look like? The document can be printed onto fourteen pages.
What do you need to do to use the Shareholders' Agreement?
Also viewed: Director's Acknowledgement & Consent
When preparing a Shareholders' Agreement, a working knowledge of the Companies Act is recommended and accordingly a specialist’s advice should be sought.
Your Memorandum of Incorporation sets out how the company works. A shareholders agreement sets out how the people who own it work with each other, and that is a different question.
It is the document you reach for when one shareholder wants to sell, when someone dies or leaves, when a decision is deadlocked, or when it turns out three people had three different understandings of what was agreed at the start.
Three shareholders in a South African private company who want the ownership arrangements written down properly, in long form, alongside the MOI.
A shareholders agreement is a template for you to adapt, not legal advice on your company. Under the Companies Act a shareholders agreement must be consistent with the Act and the MOI, and anything inconsistent is void, so it is worth having an attorney check your final version against your MOI before everyone signs.
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