NB!! Please note that this is not financial advice and should not be construed as such. Investing in small businesses bears risk and you should treat any investment as speculative.
CONTRIBUTION R470 MONTHLY
DURATION: 36 MONTHS
FREQUENCY: MONTHLY
OBJECTIVE: FUND THE ESTABLISHMENT OF Z2B A MEAT WHOLESALING BUSINESS AND AQUAPONICS FARM
BENEFITS: MEMBERS ARE TO SHARE 60% OF ALL PROFITS MADE BY Z2B FOOD & BEVERAGE PTY WITHIN THREE 3 YEARS OF ESTABLISHMENT. EVERY MEMBERSHIP IS EQUAL TO 1% OF THE SHARE IN THE 60% PROFIT SHARING. MEMBERS CAN HAVE MULTIPLE MEMBERSHIPS
MEMBERSHIP INTAKE CLOSED DATE: 30 SEPTEMBER 2023.
CAN YOU JOIN AFTER THE CLOSING DATE? YES! YOU WILL PAY R470 AND THEN MAKE SURE YOU CATCH UP FOR ALL YOUR 2023-2024 PAYMENTS BEFORE 30 AUGUST 2024. IN A YEAR YOU MUST MAKE 12 PAYMENTS OR IN ANY WAY YOU CHOOSE BUT THE TOTAL FOR EACH YEAR SHOULD BE R5640 PER YEAR.
CLICK HERE. YES I UNDERSTAND AND WANT TO JOIN
CONSTITUTION Z2B Food and Beverage a Meat Wholesaling & Aquaponics Farming Fund
1. Aims and Objectives
This is an investment group whose only mandate is to invest in the assets and operations of Z2B Food & Beverage PTY LTD. The proceeds from the funding of these assets are shared by the shareholders of the fund in proportion to the group’s profit shareholding in the operating company generated in the 3 years from the establishment.
2. Membership
• The number of members to the fund is limited
• The final day of the current offer of price for membership ended 30 September 2023.
• Members will supply the fund with their personal details (ID number and residential address) when requested.
• Members must abide by the fund’s constitution.
• Should a member pass away, his or her family members will not automatically become members of the fund.
• The membership of this group is a 3-year lock-in period of starting from the day of joining the membership. No under 18 years of age members are allowed. If someone under the age of 18 wishes to participate, their parents/ guardian needs to do it on their behalf.
3. The Fund’s Executive Committee The executive committee will consist of the following positions:
Chairperson, whose responsibilities are:
• Lead and prepare the agenda for meetings.
• Lead the procurement of services and corporate governance of the fund
• Review and approve money withdrawals in line with the needs of the Z2B Food and Beverage company.
• The first Chairperson will be screened, vetted, and appointed by the MD of Z2B Food and Beverage to avoid unknown, untrusted, and potentially fraudulent individuals penetrating the fund.
• Review and approve money withdrawals in line with the needs of the Z2B Food and Beverage company. Full Name: Kgopolo Surname: Makgate ID or Passport number: 85********85
c. Treasurer, whose responsibilities are:
• Keep an accurate account of all the fund’s finances and present copies of all the deposit slips.
• Have signing powers with the chairperson and the secretary.
• Keep up-to-date with the financials of Z2B Food & Beverage available assets that could be beneficial to the fund.
Full Name: Banele Surname: Rewo ID or Passport number: 85**********85
c. Secretary, whose responsibilities are:
• Keep an accurate record of the fund’s activities, namely minutes, correspondence, and membership register.
• Maintain communication to make sure all members are informed of all activities of the fund.
• Have signing powers with the chairperson and the treasurer.
Full Name: Koketso Idah Surname: Setoaba ID or Passport number: 82********81.
Change of Leadership
• leadership changes can only start to occur after 5 years.
• Leadership nomination can only happen through a membership resolution.
• Changes in the leadership structure must be announced 60 days before the meeting and 30 days before it takes effect.
5. Resolutions
• Each member in good standing shall have one vote in the fund.
• A resolution can be passed by a simple majority (one more than half of the members present at a meeting).
• A resolution can only be passed in a meeting or electronically through a vote where at least two-thirds of the fund’s members take part either in person or electronically or by a presentative person (proxy vote). 6. Meetings
• There are no monthly meetings held for this fund.
• An Annual General Meeting will be called by the executive committee of the fund if the fund can afford it.
• Non-members will not be allowed to sit in the entire AGM, unless invited by the executive committee.
• Special meetings will be called when necessary by the executive committee.
7. Instructions and authorization through a chosen platform
• The money in the organization will be deposited into and kept in a different bank account and not Z2B Business Account.
• Signing power and transaction authorization on the different bank account options will be held by the Chairperson, Treasurer, and Secretary of the group.
• Only instructions and authorization through the different bank accounts and the fund approval process will be actioned and processed.
• As members of the group, we agree to our Chairperson in accepting the non-discretionary mandate of the different bank account
8. Contribution Fee
• Each member will contribute an amount of R470 (R375 Membership + R95 admin) per Monthly on Same Date.
• If members contribute different amounts, the outstanding or overpaid amount will be carried forward to the next payment date. Members will get a full refund if the member cancels 60 days after inception of the fund or 60 days after joining the fund if the member joined after the commence date minus the joining fee If the member wishes to cancel after the commence date and after 60 days. All their contributions will be paid out when the first dividends are paid after the lock-in period of 3 years together with the value of their shares of profits in proportion to the amount in the fund at the time of cancelling. To cancel a member should send an email to cancellations@z2bfoodbev.co.za
9. Joining Fee
• There late fee and joining fee to be paid before are currently suspended till further notice, but the member has to catch up with payments from 31 August 2023 to 31 August 2024 and every 12 months for the rest of the period.
10. Benefits
• Benefits are any proceeds received from annual profits of trading from The Z2B Food & Beverage and contributions made by the member during the period. Excluding any expenses, debt, or losses incurred by the fund in proportion to member’s contribution. • Benefits will only be paid out post the 3 years since the inception of the group.
• In totality, there are 600 memberships available which equate to 60% of the 100% of profits from the operating business. One membership is effectively 1 share of the 60% profit share. Release of the shares per period is determined by the founder of the operating company in agreement with the chairperson and resolution from members by vote.
11. Beneficiaries
• If a member passes away, any money they are owed will be transferred to their estate.
• The laws that govern how a deceased estate is wound up will govern this process.
12. Code of Conduct
• No member will use the name of the fund for personal business or personal gain.
• Each member will be expected to conduct himself or herself in a socially acceptable manner at the meetings.
• Acts of divisive conduct, bullying, lobbying, and bringing the group into disrepute warrant a dismissal from the group by the Chairperson or Founder.
13. Fund Closure
• If the fund closes, any extra funds and assets of the fund will be shared amongst members according to each member’s contribution value to the fund.
• Liability and debts will also be shared according to each member’s contribution value to the fund if such debt is made by the fund
• Post closure of the fundl, the executive will take this as final instruction to close any bank accounts on any banking systems in the name of the fund group.
14. Exit of Member
• Members may exit the group anytime. Upon cancellation, members will be refunded their contributions without benefit minus all admin fees, and % of losses or gains shared amongst all members paid after 36 months if the member has been a member for more than 60 days.
15. Bridge of Constitution
• If a member fails to abide by the rules set in this constitution, then he/she will be removed from the fund and benefits will be paid after 3 years since the inception of the group. By continued contribution to the fund, you accept this constitution.