Public offer of shares
type: CreativeWork
description: The purpose of this thesis is to look into and analyse the concept 'public offer of shares·. Our present Companies Act provides that no person shall offer any shares to the public otherwise than in accordance with the provisions of the Act. The provisions thereof prescribe that no shares shall be offered to the public unless there is an accompanying prospectus or written statement. 1. Act No. 61 of 1973 2. Section 143 3. Sections 145(1) and 146(1) 4. Section 141 In order to ensure compliance with the provisions of the Act when shares are offered to the public, there must therefore be a prospectus, which is issued, which issue should be public. The scope of this paper is thus limited to an inquiry into the prospectus itself (the meaning thereof), the 'issue' of the same and those to whom it is directed called the public. The requirements of form, content and consequences of a proper or improper prospectus fall outside the scope of this paper. The work is divided into four chapters. The first chapter is a preliminary one dealing with introductory matters, the purpose and stages of using the prospectus as a means of bringing to the attention of the public the shares and debentures which are being offered, as well as the usage and popularity of the method. The second chapter is devoted to the definitive elements of a prospectus as contained in the Act, with particular emphasis on the offer/invitation requirement as well as the advertisement element. While a prospectus is defined to include an advertisement, the latter is nowhere defined in the Act as a result of which a number of problems arise. For instructive guidance the statutory and judicial statements of an advertisement as a prospectus in the United Kingdom and Australia are discussed in considerable detail. The third chapter deals with the 'issue· concept. The link between the 'issue· requirement and 'public' is-given attention. It will be demonstrated that the Act itself in prohibiting the issue, distribution o…
abstract: The purpose of this thesis is to look into and analyse the concept 'public offer of shares·. Our present Companies Act provides that no person shall offer any shares to the public otherwise than in accordance with the provisions of the Act. The provisions thereof prescribe that no shares shall be offered to the public unless there is an accompanying prospectus or written statement. 1. Act No. 61 of 1973 2. Section 143 3. Sections 145(1) and 146(1) 4. Section 141 In order to ensure compliance with the provisions of the Act when shares are offered to the public, there must therefore be a prospectus, which is issued, which issue should be public. The scope of this paper is thus limited to an inquiry into the prospectus itself (the meaning thereof), the 'issue' of the same and those to whom it is directed called the public. The requirements of form, content and consequences of a proper or improper prospectus fall outside the scope of this paper. The work is divided into four chapters. The first chapter is a preliminary one dealing with introductory matters, the purpose and stages of using the prospectus as a means of bringing to the attention of the public the shares and debentures which are being offered, as well as the usage and popularity of the method. The second chapter is devoted to the definitive elements of a prospectus as contained in the Act, with particular emphasis on the offer/invitation requirement as well as the advertisement element. While a prospectus is defined to include an advertisement, the latter is nowhere defined in the Act as a result of which a number of problems arise. For instructive guidance the statutory and judicial statements of an advertisement as a prospectus in the United Kingdom and Australia are discussed in considerable detail. The third chapter deals with the 'issue· concept. The link between the 'issue· requirement and 'public' is-given attention. It will be demonstrated that the Act itself in prohibiting the issue, distribution o…
author: Matlala, David
language: en
keywords: Commercial Law
date published: 1988
date modified: 2026-07-22T22:23:29Z
provider: University of Cape Town
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: Department of Commercial Law

PropertyValue
property ID: Handle
value: http://hdl.handle.net/11427/42844