Terms and Conditions

Sharenet Securities may modify these Terms and Conditions at any time and without prior notice. You should review the most current version of these Terms and Conditions by visiting the Sharenet Securities website and clicking on the Sharenet Securities Terms and Conditions hyperlink.

Jurisdiction

These Terms and Conditions are exclusively governed by and construes in accordance with the laws of the Republic of South Africa and are subject to the jurisdiction of the courts of the Republic of South Africa

The Authorised JSE User/Broker

Sharenet Securities is not a member of the JSE and is not a stockbroker. Sharenet Securities acts as an intermediary to Peregrine Equities. Peregrine Equities is a member of the JSE and the Authorised JSE User/Broker through which accounts (‘Client Accounts’) are opened and closed.

Peregrine Building
6a Sandown Valley Crescent
Sandown
Sandton
2196

Tel: +27 (0)11 722 7500
Email: Securities@peregrine.co.za
Website: www.peregrine.co.za

Compliance Officer: Dianne Rossouw
Tel: +27 (0)11 722 7400

Termination

The client may terminate the Mandate with immediate effect by contacting Sharenet Securities Accounts on 021 700 4800. Sharenet Securities is entitled to terminate the Mandate on thirty days’ written notice to the client.

Insider Trading and Other Market Abuses

If a client is found guilty of Insider Trading and other market abuses such as Market Manipulation, as defined in the Financial Markets Act 2012 (FMA) and the Rules and Regulations of the JSE Limited (“JSE”), the client is liable for criminal prosecution and all fines payable and/or prison sentence, not Sharenet Financial, its representative or any staff thereof.

Ensure that you have full knowledge of what constitutes Insider Trading and other market abuses. To assist the client with this, Sharenet Securities has placed summaries of what is likely to constitute Insider Trading and Market Manipulation on the website along with the JSE issued booklet “Insider Trading and Other Market Abuses.”

Recording of telephone discussions

For your protection, all telephone conversations of the dealing desk are recorded.  Recordings are available as a record for instructions received and verbal confirmations done and can be used to clarify disagreements that may occur regarding instructions.

Shares dematerialized & cash received

When an account is opened and shares which are to be registered into the account are still in certificated format I hereby specifically authorise Sharenet Securities to sign all relevant forms and implement all relevant steps to ensure that each individual share certificate sent to Sharenet Securities for dematerialisation is registered into the account. Do note that the dematerialisation cycle varies as a result of numerous factors and as such that Sharenet Securities cannot be held responsible for any adverse movement in the share price during the dematerialisation process.

Except if arranged otherwise shares are only sent for dematerialisation at month-end. If an immediate (not month-end) or urgent dematerialisation is required there is a cost implication which costs will be for the clients account.

Disclaimers and Limitations of Liability

Your use of this website is provided on an “as is” and “as available” basis.

Sharenet Securities, Sharenet Financial, its representatives, directors and employees will not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, revenue, income, goodwill, use, data or other intangible losses (even in Sharenet Securities has been advised of the possibility of such damages), resulting from:

  1. The use or inability to use the website;
  2. Access to or alteration of your account, transmissions or data due to your conduct, inaction or negligence;
  3. Statements or conduct of any third party; or
  4. Any other matter relating to the website.

Although Sharenet Securities and affiliated companies may provide data, information and content relating to investment approaches and opportunities to buy or sell securities, you should not consider any such information as investment or financial advice. Sharenet Securities is a provider of intermediary services for shares and not a provider of advice and as such you are solely responsible for evaluating the merits and risks associated with the use of any content on the Sharenet Securities and associated websites before making decisions based on such content.

The use of the Sharenet Securities is provided exclusively for the person/s authorised to do so on the Mandate and not for commercial use. The Sharenet Securities and Sharenet names and logos, design marks, slogans, text, video, audio, software code and user interface design are property of the respective companies. You are not authorized to use any such name or mark in any advertising, publicity or any other commercial manner. You may not copy, distribute, publish, license or sell any content or derivative work based on the content.

As an authorised user you accept full responsibility for the monitoring of your account including frequently checking your account information, reviewing your transaction history online and promptly reviewing any correspondence, account statements and confirmations received from Sharenet Securities and its associates. Notify Sharenet Securities immediately if you become aware of any unauthorized activity, disclosure, loss, theft or unauthorized use of your password. You agree to cooperate with Sharenet Securities in any investigation and agree to take corrective measures to protect your account from fraudulent activity.

Unauthorised Access

The client must keep their password secret and not disclose it giving access to unauthorised persons. If the client suspects that unauthorised access has been obtained to their account, the client must immediately call Sharenet Securities on 021 700 4800 during office hours.

Unless the client is able to prove that a person obtained the clients password/s due to Sharenet Securities’ negligence, that person will be regarded as the client’s authorised agent with authority to access the website and utilise the services provided on behalf of the client. As such Sharenet Securities will not be liable for any damages, losses, claims or expenses incurred by the client due to an unauthorised person using the Sharenet Securities website unless the client is able to prove that a person obtained the clients password/s due to Sharenet Securities’ negligence.

Integration and Severability

If any provision of these Terms and Conditions is deemed unlawful, void or for any reason unenforceable, then that provision will be deemed severable from these Terms and Conditions and will not affect the validity and enforceability of the remaining provisions.

Brokerage Fees

All brokerage fees are charged by Peregrine Equities. Peregrine Equities is a member of the JSE.

30 basis points (0.3%) or R110 minimum; whichever is larger.

A quarterly administration fee of R200 applies to all accounts. This amount is rebated in full if you have traded at least three (3) times in the given quarter.

THE BROKING FEE IS CALCULATED PER SHARE TRADED PER DAY. IF MORE THAN ONE ORDER TO BUY THE SAME SHARE IS EXECUTED ON THE SAME DAY, THE BROKING FEE WILL BE CALCULATED ON THE TOTAL VALUE FOR THE DAY AS ONE TRADE ONLY AND ADJUSTED OVERNIGHT. IF ONE ORDER TO BUY OR SELL SHARES IS EXECUTED OVER TWO DAYS, YOU WILL BE CHARGED A BROKING FEE FOR THE VALUE TRADED ON EACH DAY AS TWO SEPARATE TRADES. ONE ORDER TO BUY A SHARE AND ONE ORDER TO SELL THE SAME SHARE ON THE SAME DAY WILL CONSTITUTE TWO TRADES AND WILL ATTRACT TWO SEPARATE BROKING FEE.

Notes:

Mandatory charges

  • Strate settlement costs are charged at 0.005459% with a minimum of R10,92 for transactions up to R200 000 and a maximum of R54,59 per transaction over R1 million.
  • Investor protection levy (previously Insider trading levy) is charged at 0.0002% of the value of the transaction.
  • Securities Transfer Tax (STT) at the rate of 0.25% is payable in respect of every purchase of any securities through the agency or from a member of a stock exchange.
  • Value Added Tax (VAT) at 14% is charged on the Basic and Brokerage, Strate settlement and the Investor protection levy charges.

All charges as reflected above are charged (deducted from gross sales / added to gross purchase) at point of execution and is reflected on a contract note per counter per day which confirms the transaction as executed which are forwarded to the email or postal address as provided by the client.

JSE TRUSTEES (PTY) LTD

As provided for in the Dealing Mandate, all monies received as a result of a client’s instruction (monies deposited into the JSE Members’ Account, proceeds from sale of shares or proceeds from any corporate action) are deposited with JSE Trustees (Pty) Ltd in the clients name where the client earns interest on the cash balance for the period the monies are deposited at a rate as determined by JSE Trustees (Pty) Ltd. All such interest, less the below levy, is paid directly to the clients account at the nominated JSE Member at the end of the month.

Please note that cash balances of R12,500 or more will earn the rate determined by the JSE trustees less 100 basis points (the levy). Cash balances below this threshold will not accrue interest.

ACCOUNT PAYMENTS TO AND FROM SHARENET SECURITIES

Deposits

  • CASH DEPOSITS ARE NOT ACCEPTED AS PER JSE RULES. Costs associated with cash deposits will be allocated to the clients account.
  • To fund your account, simply make an EFT to the bank details that will be provided upon opening submitting your account application and your being opened.
  • Any deposits that require a conversion to ZAR (South African Rands) will incur a cost of R1000.00 levied by the JSE partner.

Payments

Cash will remain in a client’s with JSE Trustees (Pty) Ltd in the clients name account until instructed to transfer monies to the clients banking account which instruction needs to specify the actual banking details into which the payment has to be made. Payment will only be made to a banking account in the client’s name that matches the account details as supplied in the Sharenet Securities Mandate during the application process.

Do note that for any payment instructions where incorrect banking details are provided and the payment is rejected there is a charge by the bank which cost will be for the clients account.

SETTLEMENT

Sales

Cash will be available in the client account for distribution 3 business days after trade date as the JSE Limited works on a rolling settlement of T+3. Net proceeds settle directly to a client’s Sharenet Securities account.

Purchases

Sharenet Securities requires that funds are deposited into the nominated JSE Members’ Trust account prior to purchase orders being received and executed.

For any purchases where the monies have not been deposited the client takes responsibility to ensure payment is done and hereby confirms Sharenet Securities have the right not the obligation to demand payment at any point without the obligation to sell the client out and if the monies are requested and the request not adhered to Sharenet Securities has the right not the obligation to sell such shares and any other shares to cover the balance outstanding.

Interest on outstanding balances will be charged at FNB prime rate for the period of the outstanding balance. This balance will be deducted prior to any payments to a client.

Products and Services

By accepting these terms and conditions clients also allow Sharenet to make contact about their products and services.

*For trading orders executed via telephone, and additional charge of R100 may be charged without prior notification due to the additional resources required.

What if you have a complaint?

If you consider that any action of ours breaches these Terms and Conditions or the Mandate between the client and Sharenet Financial (Pty) Ltd, you can make a complaint. This will be acted upon promptly and the complainant will be informed of the consideration overseen by Sharenet Financial’s Key Individual as soon as possible but no later than within 6 weeks of receipt.

To make a complaint please send an email to support@sharenet.co.za and include any supporting documentation.

If the outcome is in favour of the complainant, Sharenet Financial will ensure that a full and appropriate level of redress is offered to the client without delay.

If the outcome is not in favour of the complainant, full written reasons will be given within 6 weeks of receipt of the complaint and the complainant will be advised that the complaint may be pursued (within 6 months) with the Ombud whose name, address and contact details will be simultaneously provided.


Privacy Notice

Your privacy is important to us. This statement outlines our policy on how we manage the personal information we hold about our customers, shareholders and others. It is our policy to respect the confidentiality of information and the privacy of individuals. We are bound by the relevant Data Protection legislation.

Our Privacy Policy Statement will be reviewed from time to time to take account of new laws and technology, changes to our operations and practices and to make sure it remains appropriate to the changing environment. Any information we hold will be governed by our most current Privacy Policy Statement.

Why do we collect personal information?
Our business is to meet our customers’ needs for a range of financial services. To do this effectively, we need to collect certain personal information.

What kind of personal information do we ask for?
The type of personal information we may collect can include (but is not limited to) name, address, date of birth, contact details, income, assets and liabilities, account balances, trading statements, tax and financial statements and employment details.

We obtain most of the information directly from our customers through application or other forms, and from maintaining records of information provided in the course of ongoing customer service. We may also obtain information from other sources.

We may ask for other information voluntarily from time to time (for example, through market research, surveys or special offers) to enable us to improve our service or consider the wider needs of our customers or potential customers.

If you choose not to provide the information we need to fulfil your request for a specific product or service, we may not be able to provide you with the requested product or service.

How do we use this information and who may we disclose it to?
While we may send you marketing material from time to time that we think will be useful to you, we are conscious of the need to respect your privacy.

Unless you are informed otherwise, the personal information we hold is used for establishing and managing your account, reviewing your ongoing needs, enhancing customer service and products and giving you ongoing information or opportunities that we believe may be relevant to you.

Depending on the product or service concerned and particular restrictions on sensitive information, this means that personal information may be disclosed to:

  • other companies within the Sharenet group who provide financial and other services
  • service providers and specialist advisers who have been contracted to provide us with administrative, financial, insurance, research or other services
  • credit providers, courts, tribunals and regulatory authorities as agreed or authorised by law
  • credit reporting or reference agencies
  • anyone authorised by an individual, as specified by that individual or the contract

Management of personal information
We train our employees who handle personal information to respect the confidentiality of customer information and the privacy of individuals. We regard breaches of your privacy very seriously and will impose appropriate penalties, including dismissal.

How do we store personal information?
Safeguarding the privacy of your information is important to us, whether you interact with us personally, by phone, mail, over the internet or other electronic medium. We hold personal information in a combination of secure computer storage facilities and paper-based files and other records, and take steps to protect the personal information we hold from misuse, loss, unauthorised access, modification or disclosure.

We may need to maintain records for a significant period of time. However, when we consider information is no longer needed, we will remove any details that will identify you or we will securely destroy the records.

How do we keep personal information accurate and up-to-date?
We endeavour to ensure that the personal information we hold is accurate and up-to-date. We realise that this information changes frequently with changes of address and other personal circumstances. We can generally update your customer information over the telephone.

You have the right to check what personal information about you is held by us
Under the Data Protection legislation, you have the right to obtain a copy of any personal information which we hold about you and to advise us of any perceived inaccuracy. The legislation does set out some exceptions to this.

To make a request, please write to us, verifying your identity and specifying what information you require.

We may charge a fee to cover the cost of verifying the application and locating, retrieving, reviewing and copying any material requested. We will acknowledge your request and respond to it within 40 days of receipt of your application and any applicable fee.

What if you have a complaint?
If you consider that any action of ours breaches this Privacy Policy Statement or the Data Protection laws or otherwise doesn’t respect your privacy, you can make a complaint. This will be acted upon promptly. To make a complaint, please telephone us on 021 700 4800

How to contact us
If you want to:

  • make a general enquiry about our privacy policy
  • change your personal information
  • access your personal information

phone us on 021 700 4800 or email us at:

support@sharenetsecurities.co.za

Privacy: web supplement
This statement outlines some privacy issues specific to this website.

We may collect personal information you enter when using our website.

What is a cookie and how do we use cookies?
Cookies are small pieces of text stored on your computer to help us determine the type of browser and settings you are using, where you have been on the website, when you return to the website, where you came from, and to ensure your information is secure. The purpose of this information is to provide you with a more relevant and effective experience on this website, including presenting web pages according to your needs or preferences.

We may also use independent external service providers to track the traffic and usage on the website.

Cookies are frequently used on many websites on the internet and you can choose if and how a cookie will be accepted by changing your preferences and options in your browser. You may not be able to access some parts of this site if you choose to disable the cookie acceptance in your browser, particularly the secure parts of the website. We therefore recommend you enable cookie acceptance to benefit from all the services on the website.

Technology improvements
We are constantly striving to improve functionality on this site through technology changes. This may mean a change to the way in which personal information is collected or used. The impact of any technology changes which may affect your privacy will be notified in this Supplement at the time of the change.

Links to third party websites
This website may have links to external third party websites that may benefit the user. Please note, however, that third party websites are not covered by our privacy policy and these sites are not subject to our privacy standards and procedures.