Share sale plan template
This document is a share sale plan template, outlining the key steps and responsibilities involved in a share sale transaction. It details the sequence of events from settlement agreements and SPA approval to completion, payment, and transfer of shares and directorship changes. The plan provides a timeline for each action, helping to manage the process efficiently.
Share sale plan template
# | Step | Responsible | When |
Settlement agreements completed and paid | Seller | ||
SPA approved by all Sellers and Buyer | Seller | ||
Final version of SPA prepared and circulated in PDF | Seller | ||
Seller to provide the account details to buyer | Seller | ||
SPA signed | Sellers and Buyer | DAY 0 | |
Buyer pays Seller 1 $initial-sum | Buyer | DAY 4 | |
Sellers perform obligations under 4.1. | Sellers | DAY 5 – Long Stop Date | |
Completion | DAY 30 | ||
Stock Transfers delivered to the Buyer | DAY 30 | ||
Share certificates delivered to the Buyer | Sellers | DAY 30 | |
Current Directors provide resignation letters | DAY 30 | ||
Board meeting held, where transfer of shares is approved, subject to payment of stamp duty (stamping), the Buyer appointed Director, existing directors resignation approved | DAY 30 | ||
Seller pays remaining purchase $final-sum |
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