Employee share trusts.
An employee cannot exercise his or her option in advance of the stipulated date (unless the directors agree thereto in terms of the concluding words of clause 17.2) or in excess of the stipulated percentage.
Securities Regulation Code on Takeovers and Mergers - whether mandatory offer to acquire shares of minority in a company must be made where transaction which would have resulted in change of control no longer to be implemented.
1. Whether or not on the agreed facts appellant incurred an obligation to offer to purchase the shares of respondents as minority shareholders in Time Life Insurance Limited at R2,50 per share pursuant to the provisions of the Act and the Code.