The sale of closed joint stock companies (CJSC) is carried out through the sale and purchase of their shares. In order to sell shares in a CJSC, it is necessary to comply with the procedure established by law for notifying other shareholders of this. After that, you will need to conclude a sale and purchase agreement for shares and sign a transfer order, as well as make changes to the register of shareholders.
Instructions
Step 1
A shareholder of a CJSC who intends to sell his shares to a third party is obliged to notify the other shareholders and the CJSC about this in writing. Therefore, prepare notices stating that you are ready to sell shares of this CJSC at a certain price and on certain conditions. Send these notices to the shareholders and, in fact, the CJSC. You can address them to the name of the head of the CJSC, then he will distribute them himself, although in this case there is a risk of failure to notify some shareholders.
Step 2
After notifying the shareholders and the CJSC, a certain period of time must pass for them to make a decision to buy your shares, since they have a preemptive right to do so. You have the right to set this period yourself, but according to the law, it should not be less than 45 days.
Step 3
Within the specified period, shareholders must send you written refusals to acquire your shares or express their intention to acquire them. In the first case, you have the right to sell shares to third parties. After defining a buyer, prepare a share purchase and sale agreement.
Step 4
Remember that an essential condition of the share purchase and sale agreement is its subject matter. Therefore, detail it as much as possible: indicate the name of the CJSC, the number of shares, par value, category, type, quantity, issue number. Also, the contract should indicate the sale price of the shares. In addition to the contract, draw up a deed of transfer. He will confirm the actual transfer of shares.
Step 5
In accordance with the current legislation, the transfer of rights to shares occurs at the time of making a corresponding entry in the register of shareholders. Therefore, after concluding the contract and signing the transfer order, take care of making changes to it, otherwise, legally, the shares will remain yours.
