SALE OF SHARES AGREEMENT (IN PART, TO A NON-SHAREHOLDER)
Summary
This Sale of Shares Agreement may be used when a shareholder in a Company sells portion of his/her shares in the Company to another person, not being an existing shareholder of the Company.
More information
Why do I need a Sale of Shares Agreement?
A Sale of Shares Agreement strives to set out the terms of the sale of a shareholder’s shares in a Company to another person.
Who should use a Sale of Shares Agreement?
A shareholder wishing to sell portion of the shares that he/she has in a Company to somebody else, (being someone who is not an existing shareholder in the Company) may consider using this Agreement.
What does the Sale of Shares Agreement say?
The Agreement consists of:
- Parties
- Definitions
- Sale of shares
- Purchase price and payment
- Delivery of documents
- Financial accounts
- Warranties
- Indemnities
- Breach
- Notices
- General
What does the Sale of Shares Agreement look like?
- The agreement can be printed onto three A4 pages.
What do you need to do to use the Sale of Shares Agreement?
- Read the document to ensure that it suits your requirements. Make changes as required.
- Complete the relevant details, such as the Seller and Purchaser’s names, the name of the Company and the purchase price. In particular, ensure that the clause specifying the manner in which the purchase price is to be paid is completed.
- Ensure both parties sign the agreement and receive a copy.
Also known as:
- Terms of Sale of Shares
- Sale of Shares Contract
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