CORPORATE GOVERNANCE IN SOUTH AFRICA
There is increased activism in the governance space in South Africa with shareholders and other stakeholders seeking to implement the highest corporate governance requirements under the Companies Act, the Public Finance Management Act and the King Code.
PPM Attorneys presents expertise in both public and private sector governance, under the Companies Act as well as specific provisions of the Companies Act and the PFMA for directors of State Owned Companies and private companies. Our expertise includes more than ten years’ experience advising on, developing guidelines, regulatory frameworks, attending, sitting on and providing general advice to boards of state owned companies and private companies. Our advice, in particular focuses on the role of the board as the cornerstone of governance in a company, the segregation of roles and duties between the shareholder, the board and management as well as effective insight to management in relating to the board and to the board in addressing shareholder or stakeholder concerns and requests.
Our attorneys have advised clients in restructuring and turning around multi billion rand companies, and have advised on –
- Director independence;
- Board committee practices, including audit, investment and procurement and social, ethics and governance;
- Financial distress and business rescue requirements
- Intra-group Financial assistance and governance/related-party transactions;
- Appointment and termination of directors;
- Fiduciary duties and personal liability of directors and prescribed officers;
- Financial misconduct; and
- Derivative actions.