Frequently Asked Questions

• Who can be a Shareholder?

  Any CareCoop member who is an employee of an organization from the NGO sector (and is affiliated with CareCoop by having signed an MoU)

• What is the difference between Shares and Savings?
  • Savings: are the accumulated monthly contributions that a member makes to CareCoop and qualifies their membership, while;
  • Shares: are acquired by members who intend on owning any portion of CareCoop determined by the number of shares purchased.
• When can I purchase shares?
  • CareCoop Float: Shares can be purchased during specific floats advertised by CareCoop (CareCoop periodically calls for the purchase of shares). Member Share Transfer: Shares can also be purchased at any time by a qualifying member from another member willing to dispose (sell) of their shares.
• How can share purchases be financed?
  • Loan Application: CareCoop has a Loan Product that enables members finance their share purchases; The Share Financing Loan.
  • Cash Purchase: This means that a member can transfer funds into the CareCoop ABSA account for the amount of shares desired.
  • Savings Purchase: Shares can also be purchased by one’s Savings, provided the purchase price is equivalent to an amount above and beyond the member’s 20% Savings threshold for any outstanding loans.
• What are the benefits of a Shareholder?
  • Voting Rights: Shareholders are entitled to vote at the CareCoop Annual General Meeting.
  • Board of Directors: Shareholders are also entitled to vie for the position of Director to serve on the CareCoop Board.
  • Dividends: Shareholders are also entitled to dividends once declared on a yearly basis depending on the financial performance of CareCoop.
• How can I Dispose of my Shares?
  • Normal Disposal: A shareholder has the right to sell his/her shares to a person of his/her choice provided the potential buyer is a CareCoop Member who qualifies to hold CareCoop shares. The sale should be at a mutually agreed and fair price between the two members.
  • Donation: A shareholder has the right to donate (give as a gift) his/her shares to a spouse or any other person of his/her choice if that recipient is a CareCoop member and qualifies to hold shares in CareCoop.
  • Death of a Member: Where a shareholder dies, his/her shares will be disposed of in accordance with his/her WILL, provided the beneficiary/beneficiaries qualify for membership; if the beneficiary/beneficiaries do not qualify to be members, CareCoop will buy back the shares at the ruling share price. Where a shareholder dies without leaving a WILL or valid instructions on how his/her estate should be administered, the shares will be dealt with inaccordance with a Court Order and the deceased’s Administrator/Next of keen will be paid the full value of the shares by CareCoop.
• Where can I get a Share Transfer Form and what are the other requirements for the transfer?
  • The share transfer form can be downloaded from our website; www.carecoop.org Both parties, the buyer and the seller must fill out and sign the transfer form. Both parties must also attach copies of their NRCs and send their request through to CareCoop physically or email to info@carecoop.co.zm
  • Existing Share Certificates previously issued for the said shares should be sent through to CareCoop before new ones may be issued after the transfer.
• What is CareCoop’s Share Price?

  CareCoop’s Share Value/Price is determined from time to time based on the Net Asset Value i. e the share value is determined by the assets held by CareCoop at the time of valuation.

• Can I use my CareCoop Shares to secure any debt?

  CareCoop shares shall and may not be used as security for any debt exposure of the Shareholder.

• What are the minimum and maximum numbers of shares that can be held by an individual Shareholder?
  • The minimum number of shares that can be held by a shareholder is 1.
  • The maximum number of shares that can be held by a shareholder should not be more than 20% of the total shares of CareCoop.
• Can I sell my shares immediately after purchase?
  • Lock in Period; after allotment of shares of CareCoop, a shareholder must retain the shares for a minimum period of twelve (12) months or till the time he/she ceases to be a member, whichever period is shorter. A shareholder shall not be allowed to sell the shares before the stated time limit.
• Can I be disqualified from being a Shareholder, if yes then under what circumstances?

  A shareholder is disqualified from holding shares by;

  • The process or operation of law e.g. declared bankrupt or disappears without any trace for a period of seven years (he/she shall be presumed dead)
  • Is convicted of a felon and is jailed for a period of more than Six (6) months
  • Ceases to be a member of CareCoop