Description

LML4806 ASSIGNMENT 1 2026
DUE 18 AUGUST 2026
1.1 ADVICE TO MBEU WEALTH (PTY) LTD: PROSPECTS OF SUCCESS IN
CHALLENGING THE CALLING AND CONVENING OF THE SHAREHOLDERS’
MEETING

Mbeu Wealth (Pty) Ltd (“Mbeu Wealth”) holds 25% of the issued ordinary shares of
Spartacus Ltd.¹ It seeks to challenge the shareholders’ meeting of 15 May 2026 on thgrounds that both the calling and convening of the meeting were irregular and invalidThe defects in question are: (i) the meeting was called by Pamela acting alone, withoa board resolution; (ii) no record date was set for the meeting; and (iii) Mbeu Wealth dnot receive notice of the meeting.
The Calling of the Meeting: Pamela Lacked Authority to Convene the Meeting
Section 61(1) of the Companies Act 71 of 2008 provides that “the board of a companor any other person specified in the company’s Memorandum of Incorporation or rules,may call a shareholders’ meeting at any time”.² The Memorandum of Incorporation
(“MOI”) of Spartacus Ltd provides that only the board of directors has the power to cashareholders’ meeting. No other person is specified in the MOI as having such autho
Pamela sent the notice of the shareholders’ meeting purporting to act on behalf of the

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Description

LML4806 ASSIGNMENT 1 2026
DUE 18 AUGUST 2026
1.1 ADVICE TO MBEU WEALTH (PTY) LTD: PROSPECTS OF SUCCESS IN
CHALLENGING THE CALLING AND CONVENING OF THE SHAREHOLDERS’
MEETING

Mbeu Wealth (Pty) Ltd (“Mbeu Wealth”) holds 25% of the issued ordinary shares of
Spartacus Ltd.¹ It seeks to challenge the shareholders’ meeting of 15 May 2026 on thgrounds that both the calling and convening of the meeting were irregular and invalidThe defects in question are: (i) the meeting was called by Pamela acting alone, withoa board resolution; (ii) no record date was set for the meeting; and (iii) Mbeu Wealth dnot receive notice of the meeting.
The Calling of the Meeting: Pamela Lacked Authority to Convene the Meeting
Section 61(1) of the Companies Act 71 of 2008 provides that “the board of a companor any other person specified in the company’s Memorandum of Incorporation or rules,may call a shareholders’ meeting at any time”.² The Memorandum of Incorporation
(“MOI”) of Spartacus Ltd provides that only the board of directors has the power to cashareholders’ meeting. No other person is specified in the MOI as having such autho
Pamela sent the notice of the shareholders’ meeting purporting to act on behalf of the

Reviews

There are no reviews yet.

Be the first to review “LML4806 Assignment 1 Semester 2 2026 – Due 18 August 2026”

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