Shareholder
Agreements

Below are the various documents forming the shareholders agreement:

• Articles of Association 
• Memorandum of Association 
• Main Agreement 
• Use Agreement 
• Statutory Information 
• Conditions of Purchase 

When it comes to the sale of shares, please bear the following in mind:

There are 3 parties involved

Seller

Purchaser

Hermanusdoorns

1. Enter in a sale agreement with the purchaser.
    
2. Notify the office of this with any conditions that may apply and which party will pay the costs of transfer (R1200).
   
3. Purchaser must enter into agreement with Hermanusdoorns: 
4. 1. Main Agreement 
   2. Use agreement 
   3. Articles and Memorandum of Association
       
5. Electrical Certificate of Compliance must be submitted if a dwelling exists.
    
6. Notify office when transfer can take effect. All transfers shall be administered by Hermanusdoorns Limited.
    
7. Copies of Share Certificate will be sent to new owner when the transfer of shares is registered. 

Please note that effective 1 September 2009, Transfer Duty is payable by the Purchaser on the sale of shares.

In future, proof of receipt of payment from SARS would be needed before the registratiion of sale of the share can take place. The Transfer Duty Scale for individuals is as follows:

• Value less than R 500k = 0 
• R 500k to R 1m = 5% 
• Over R 1m = R 25k plus 8% of the amount that exceeds R 1m 

All other entities pay a flat 8%.

Duties are also payable if one of the following occurs:

A change in shareholding of a company that holds a Hermanusdoorns share.

A change in the members of a CC that holds a Hermanusdoorns share.

A change in Trustees or beneficiaries of a Trust that owns a Hermanusdoorns share.