Hello, my name is***** am a qualified lawyer and I will be assisting you with your question today. Are these people also employees of the company?
yes Ben they are
Is the sale one of the shares of the company? I presume the shareholder sells their shares to the new owners?
The Shareholder is selling his 70% of shares and the remaining Shareholders hold 30% each and will retain their Jobs and positions and Shareholding.
Thank you. There is usually no TUPE transfer on the sale of a company through its shares because technically there is no change of employer, just a change of ownership. However, it is not always as simple as that and there have been examples when share sales have amounted to a UPE transfer. Each case is decided on its own facts though so for an example of when that happened, together with the factors that made it into a TUPE transaction, see here:
So generally no, there is no TUPE transfer when it is just the shares that are sold, but in limited circumstances there could be a valid transfer, although only a court can decide if that is the case.
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