Fees
YOUR VISION IS OUR FOCUS
Iso Leso is to be funded by way of management
fees charged to shareholders on a monthly basis. The fees
have been set at R285.00 per month per practice site. The
company will not earn fees by way of charging a percentage
of contract fees, turnover, or any amount similar to royalties.
The company is essentially a management service company
incorporated for the benefit of its shareholders and will
be managed on a break-even basis. Refer to the attached
schedule setting out details of management fees for multiple
sites. Optometry groups will have to register each practice
site subscribing for 10 shares at R1500.00 – the initial
share price – and payment of a monthly management fee of
R250.00 (plus 14% Vat = R285.00) – the initial management
fee.
Shares to be issued to practicing optometrists
in their personal capacities as representatives of a specific
optometry site. Shares are to be held by an optometrist,
and not by a company, close corporation, trust or other
like entity.
Shares will be issued at a cost of
R1500.00 for 10 shares. Payment for the application of shares
should accompany your application form.
In order
to ensure that control is not exercised by any one individual,
shareholding by any individual is limited to 40 shares.
Iso Leso
Management Services Limited
SHARE COST
AND MANAGEMENT FEES
| PRACTICE SITE | SHARE PREMIUM | VOTING SHARES AT PAR VALUE |
MONTHLY SUBS |
| 1 Practice 1 Owner |
R1490 | R10 share capital 10 Shares 10 Votes |
R250 (excl. VAT) Per Practice |
| 1 Practice 2 Owners |
R1490 | R10 share capital 10 Shares 5 Shares per Owner 10 Votes |
R250 (excl. VAT) Per Practice |
| 1 Practice 4 Owners |
R1490 | R10 share capital 10 Shares 1 x 4 Votes 3 x 2 Votes 10 Votes |
R250 (excl. VAT) Per Practice |
| 2 Practices 1 Owner |
2 x R1490 R2980 |
R20 share capital 20 Shares 20 Votes |
R250 per Practice R500 (excl. VAT) |
| 2 Practices 4 Owners |
2 x R1490 R2980 |
R20 share capital 20 Shares 5 Shares per Owner 20 Votes |
R250 per Practice R500 (excl. VAT) |
| 4 Practices 3 Owners |
4 x R1490 R5960 |
R40 share capital 40 shares 14 Shares x 1 Owner 13 Shares x 2 Owners 40 Votes |
R250 per Practice R1000 (excl. VAT) |
| 1 Franchise 1 Owner |
R1490 | R10 share capital 10 Shares 10 Votes |
R250 (excl. VAT) Per Franchise Site |
| 1 Franchise 2 Owners |
R1490 | R10 share capital 10 Shares 5 Shares per Owner 10 Votes |
R250 (excl. VAT) Per Franchise Site |
| 2 Franchises 4 Owners |
2 x R1490 R2980 |
R20 share capital 20 Shares 5 Shares per Owner 20 Votes |
R250 per Practice R500 (excl. VAT) Per Franchise Site |
| NOTES: | |
| 1 | Each site pays R1500 for 10 shares |
| 2 | Each site gets 10 shares at R10 par, plus R1490 share premium |
| 3 | Maximum shares per site - 10 shares |
| 4 | Owners of a practice can decide on number of shares to be held by individuals |
| 5 | Maximum shares per individual - 40 (depends on how many sites the individual owns alone) for multiple sites |
| 6 | A "site" shall mean a practice site or franchise site |
| 7 | An "owner" shall mean the optometrist who owns the practice |
| 8 | In the case of franchises, the owner shall be the franchisee |
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