Call Option Agreement South Africa

For example, the shareholders` agreement (if any) may include preferential rights to the issuance of shares or the transfer of shares of the company, and existing shareholders must waive these rights. The incorporation of the company may also limit the issuance of shares to new shareholders. The parties wish to document their agreement to the foregoing and related matters. The Company undertakes to obtain the preparation of a new draft shareholders` agreement and a draft instrument of incorporation concerning the Company which, inter alia, reflect the new participation of each shareholder in the right to vote and participate in the Company and provide for all matters relating to the transfer of shares in accordance with this Agreement (“new constitutional documents”) as soon as possible after the date of entry into force, and to the concessionaire, such reflection projects. The company may grant the call option to issue new shares or a shareholder to transfer existing shares. A stock exchange (option holder) and a licensor (the existing entity or shareholder) are parties to the option agreement. The fellow may be a natural or legal person. If afSA does not act as an institution at this stage or, for any reason, does not accept a request for arbitration, the arbitration shall be conducted in accordance with AFSA`s commercial arbitration rules (as recently applied by AFSA) before an arbitrator appointed by agreement between the parties to the dispute or by inconsistent agreement within ten working days of the request for arbitration. Any party to the dispute shall then have the right to invite without delay the Chairman of the Johannesburg Bar Council to appoint the arbitrator, provided that the person so appointed is a lawyer of at least ten years` reputation. The person so appointed shall be the duly appointed arbitrator in respect of the dispute. In the event that the lawyers of the parties to the dispute fail to reach an agreement on a matter relating to the management of the arbitration, this case is referred and decided by the arbitrator, whose decision is final and binding on the parties to the dispute. Unless expressly stated otherwise, the prescribed number of days shall be determined excluding the first and last day or, if the last day falls on a day that is not a working day, the next working day. .

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