Articles of Association: pre-emption (share transfer)
Standard Article comprising pre-emption rights on the transfer of shares.
What are pre-emption rights on a share transfer?
Pre-emption rights are essentially a right of first refusal. They entitle the non-transferring shareholders to acquire the shares which the transferor proposes to transfer in priority to them being acquired by another person, whether by another current shareholder or by someone who is not already a shareholder.
About this document
This document comprises standard articles of association for inclusion in the Articles of Association of a company containing pre-emption rights on the transfer of shares.
- general prohibition on share transfers unless otherwise provided in the Articles of Association
- permitted transfers for transfers to related parties
- detailed pre-emption rights offer and acceptance process
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