Legal agreement outlining partial sale of company shares to non-shareholder.
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Sale of Shares Agreement Template - in part, to a Non-Shareholder - South Africa
R 1,040.85
In part, to a non-shareholder
Summary A written contract to sell shares may be used when a shareholder sells some (but not all) of the shares that they own in a Company to a purchaser, where the purchaser is not an existing shareholder of the Company. Ie. after the sale of shares, the seller will remain a shareholder in the business. A Sale of Shares Agreement includes reference to due diligence and warranties, amongst other detailed provisions. The Agreement caters for more than one Shareholder selling a portion of their shares, if applicable.
Why do I need a written contract to sell shares? An agreement for the sale of shares in a company sets out the terms of the sale. A number of issues need to be negotiated during a Company’s sale of equity, such as the purchase price, the due diligence process, confidentiality and warranties. These issues need to be included in the Sale of Shares Agreement to eliminate uncertainty and ensure that both the sellers and the purchaser understand their respective rights and obligations during the sale.
What does the agreement say? This template contract for the sale of shares in a company consists of: Parties; Definitions; Sale of shares; Suspensive Conditions; Purchase price and payment; Delivery of documents; Due diligence; Warranties; Indemnities; Restraints; Breach; Confidentiality; Dispute Resolution; Pre-emptive rights; Notices; General.
Note: if the entity is a close corporation, then you'll need a Sale of Member's Interest Agreement.
What does the contract look like? The template agreement can be printed onto thirteen pages.
What do you need to do to use this Agreement?
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