Time for a new shareholder? Let’s see what’s involved...
Often people think that being the vendor selling shares, there is not much for them to do. However, we know that every scenario upon which shares are being sold is different, where bringing in new blood comes with new circumstances. Our job as your lawyer is to make sure that such a transition is good for you whether you’re fully exiting or staying on in the business.
Discuss with Janey on what will be relevant for you so that she can advise & prepare the sale agreement specific for your purpose.
- Current account included in sale or to be repaid?
- Settlement deliverables by you.
- Who is the purchaser?
- Warranties by you.
- Restraint of trade by you.
- Do you need to resign as a director?
- Impact on dividend policy.
- Impact on losses and imputation credits.
- Are you keeping or re-investing the funds received?
- Repayment of debts.