Changes to a company’s share capital

Shares are the units into which the ownership interest in a profit company is divided. The share capital of a company is comprised of the funds contributed by shareholders to the company in exchange for their shares in the company.

The new Companies Act, 2008 has changed the basis on which companies are capitalized. Shares issued in terms of the 2008 Act have no nominal or par value. The board must determine the price or other adequate considerations at which shares may be issued at the time of issuing the shares.

Companies that do have no par value shares, after the implementation of the Companies Act, 2008, on 1 May 2011:

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Companies with par value shares may convert its par value shares to no par value shares, where after such may be increased or subdivided.
Our services include:

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Directors, Auditors and Public Officers

A company would add or remove a director in any of the following instances:

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The office of auditor may not remain vacant for more than 40 business days. An auditor may serve a maximum of 5 consecutive financial years. The timeframe for the processing of a change of auditors is 3-5 working days from the date of receipt of the necessary supporting documents. Our services include:

  • Appointment of new directors, public officers and auditors.
  • Resignations of directors, public officers and auditors.
  • Removal of directors, public officers and auditors.
  • Deceased directors, public officers and auditors.
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Year end and registered address changes

A company is entitled to change the date of its financial yearend once during any individual financial year. The timeframe for CIPC processing of amendments to the registered address is 10-15 working days from receipt of all required documentation.

A company is required by law to ensure that their registered address information is up to date and may be liable to a fine or prosecution if it is found to be incorrect. The timeframe for CIPC processing of amendments to the registered address is 10-15 working days from receipt of all required documentation.

Our services includes:

  • Change of year end
  • Change of registered address

Company register and update

It is the duty of the company to establish and maintain a securities register (or share register).  Section 50 of the Companies Act contains helpful information on the legal requirements for the establishment and maintenance of a securities register. 

Special Resolutions

Our services include:

  • Submission of special resolutions
  • Amendments to company MOI
  • Changes in company name
  • Approval of the winding-up of companies

Other services

As part of the company secretarial services offered to our clients,
we offer:

  • Document storage
  • Document discloser
  • Copies or retrieval of CIPC documents
tel

+27 11 831 2319

address

494 Ontdekkers Road, Florida Hills, 1709

tel

+27 11 831 2319

address

494 Ontdekkers Road