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IN THE COMPANIES TRIBUNAL OF SOUTH AFRICA
CASE NO: CT02901ADJ2026
Ex Parte Application
N V PROPERTIES LIMITED APPLICANT
Presiding Member: Dr. M A Chicktay
Date of Decision: 25
th August 2026
DECISION
INTRODUCTION
[1] The Applicant is N V PROPERTIES LIMITED (“the Applicant”),
registered in terms of the company laws of the Republic of South
Africa, under registration number 1991/000649/06 represented by
Daphny Stander, the director of the company, who is duly authorized to
do so.
[2] The Applicant filed an application requesting an extension to hold its
AGM more than the statutory 15 Months after the last AGM.
APPLICANT’S SUBMISSIONS
[3] The applicant submits that its auditors had resigned and hence it was
unable to hold its AGM in time.
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[4] The Applicant is now requesting that they be given an extension to hold
the AGM until 31st January 2027.
APPLICABLE LAW
[5] Section 61 of the Companies Act 71 of 2008 provides for shareholders
meetings.
[6] Section 61(7) specifically provides as follows:
“A public company must convene an annual general meeting of
its shareholders-
(a) Initially, no more than 18 months after the companies date of
incorporation; and
(b) Thereafter, once every calendar year, but no more than 15 months
after the date of the previous annual general meeting, or within an
extended time allowed by the Companies Tribunal, on good cause
shown,”
EVALUATION
[7] The Tribunal is satisfied that good cause has been shown as to why
the AGM could not be held within the statutory period required by the
Act. Due to a the resignation of the auditors there has been a delay in
holding an AGM.
[8] The applicant will be given an extension to hold its AGM by no later
than31st January 2027.
ORDER
[9] The Applicant is granted an extension to hold its AGM before 31st
January 2027
Dr. MOHAMED ALLI CHICKTAY
MEMBER OF THE COMPANIES TRIBUNAL