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Jamie-Law
Jamie-Law, Solicitor
Category: Law
Satisfied Customers: 3980
Experience:  Solicitor
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I have 20% of a company and I've put my notice in to leave.

Resolved Question:

I have 20% of a company and I've put my notice in to leave. Is my only option to let the company buy my shares back or can I sell them to staff or a third party.
Submitted: 10 months ago.
Category: Law
Customer: replied 10 months ago.
I've attached the agreement
Expert:  Jamie-Law replied 10 months ago.

Hello my name is ***** ***** I will help you.

Yes you can sell to a third party. The agreement does not prevent you from doing this.

But you have to go through the whole disposal notice procedure.

However in the answer is yes, you can sell to a third party.

Can I clairfy anything for you about this today Please?

Customer: replied 10 months ago.
Thanks Jamie, I can see I will need to adhere to the section 8 pre-emption rights on transfer as well.But just to be clear, I can go out and find a buyer and then execute the the disposal notice procedure in section 7?Many thanks
Simon Jackson
Expert:  Jamie-Law replied 10 months ago.

Correct Simon.

Does that clairfy?

Customer: replied 10 months ago.
OK great, just wanted to make sure I do not need to get permission to get a buyer, I will of course out of curiosity inform them
Customer: replied 10 months ago.
I my resignation is in and I leave at year end so I need to find a buyer fast.
Customer: replied 10 months ago.
Assuming this is ok within the shareholders agreement.Thanks you.
Expert:  Jamie-Law replied 10 months ago.

Yes, assuming it's not excluded by the shareholders agreement, which I can't see it is then yes.

Does that clairfy?

Jamie-Law and 2 other Law Specialists are ready to help you
Customer: replied 10 months ago.
Great thank you :-)