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Ownership Best Practice Essay

1162 words - 5 pages



QUESTION 1 | 3 |
QUESTION 2 | 3 |
QUESTION 3 | 3-4 |
QUESTION 4 | 4-6 |

1.1 75% X 25% = 18.75%
Voting rights: | | | |
Exercisable voting rights in the hands of black people | 3 | 25% + 1 Vote | 2.25 |
Economic Interest: | | | |
Economic interest in the enterprise to which black people are entitled | 4 | 25% | 3 |

2.1 Company 1 is 65%
Company 2 is 65% x 80% =52%
Company 3 is 65% x80%x90% =46.8%
Company 4 is 75%
Company 5 is 75% x 55%=41.25%
...view middle of the document...

Voting rights: | | | |
Exercisable voting rights in the hands of black people | 3 | 25% + 1 Vote | 3 |
Exercisable voting rights in the enterprise in hands of black women | 2 | 10% | 1 |
Economic Interest: | | | |
Economic interest in the enterprise to which black people are entitled | 4 | 25% | 4 |
Economic interest in the enterprise to which black women are entitled | 2 | 10% | 1 |
Economic interest in the enterprise to which black designated groups are entitled | 1 | 2.5% | 0 |
Realisation Points | | | |
Ownership fulfilment | 1 | Yes / No | 1 |
Net Value | 7 | 25% | 7 |
Bonus Points 25% must be met first | | | |
Ownership involvement by new entrants | 2 | 10% | 0 |
Ownership involvement by employee schemes, co-op, BB schemes | 1 | 10% | 0 |

4.2 Black designated groups are:
a) Unemployed black people not attending and required by law to attend an educational institution and not awaiting admission to an educational institution
b) Black people who are youth as defined in the National Youth Commission Act of 1996
c) Black people who are persons with disabilities as defined in the codes of good practice on employment of people with disabilities issued under the Employment Equity Act
d) Black people living in rural and under-developed areas
Black people” is as defined in the Broad-based Black Economic Empowerment Act no. 53 of 2003, save that it is limited to South African citizens. In terms of the
implementation of the Codes of Good Practice, the term is further defined as Africans, Coloureds and Indians who are South African citizens. For avoidance of
doubt, this term does not include juristic persons or any form of Enterprise other than a sole proprietor.

4.3"black new entrants" means a black Participant or Participants who:
a) Hold a Voting Right and Economic Interest in a Measured Enterprise; and
b) Prior to acquiring an Equity Interest in a Measured Enterprise, have not concluded similar transactions in respect of any other Enterprise which have, in aggregate, a cumulative value of R 20,000,000.00 measured in accordance with an Acceptable Valuation Standard;
4.4 The following apply to Employee Share Ownership Schemes (ESOP):
a) The scheme constitution must define the participant and the proportion of their claim to receive distributions
b) A written record of the name of the participants or the use of a defined class of natural person satisfies the requirement for...

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