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Shareholder Agreements, Glasgow

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If your company has more than one shareholder, then you need shareholders’ agreements in place.

It is an agreement between the shareholders of a company which regulates their interaction, as well as other aspects of the business.

Disputes can arise very easily in the absence of these agreements.

While we are ready to assist you in shareholder disputes, having an agreement in place can help avoid the hostility, time and cost of a dispute.

Contact Jones Whyte shareholder agreement solicitors today and we can help you draft your shareholders agreement.

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What is in a shareholders agreement?

Shareholders’ agreements are vital if you want to protect the interests of all shareholders, have certainty about how the company is run and have cover in the event of someone’s untimely departure from the company.

Broadly, they are put in place to cover the following:

  • The nature of the company’s business.
  • The transferability of shares.
  • The mechanism for commercial decision-making.
  • The composition of the board of directors.
  • Shareholders dispute resolution procedures.
  • Each shareholder’s contribution to the company.
  • The dividend policy.

The content of shareholders’ agreements can be as bespoke as you like. 

The specialist shareholder agreement lawyers at Jones Whyte will discuss with you the types of terms which can be included and ensure the right terms are included to address the needs of the company. 

For instance, you might require a right of first refusal for the other shareholders, where one wishes to get rid of their shares. 

You may wish to include a list of decisions that cannot be made by directors without the prior consent of a certain number of shareholders. 

Whatever your requirements, the specialist company law solicitors at Jones Whyte can help you.

Advantages of shareholders agreements

Shareholders’ agreements offer a number of advantages.

Although they mean incurring an up front cost, the likelihood is that they can help you avoid greater costs down the line as you avoid disputes.

They also offer a number of other advantages. Shareholders’ agreements are not open to inspection by the public and are therefore subject to a greater degree of privacy. In addition, shareholders’ agreements are enforceable through the rules governing contracts.

New shareholders

While new shareholders in a company are automatically bound by the articles of association, they are not automatically bound by the shareholders’ agreement. 

It is important that, when a new shareholder acquires shares in a company, they formally agree to the shareholders’ agreement.

Other services from Jones Whyte

Jones Whyte shareholder agreement solicitors are part of the disputes team. Our experienced disputes solicitors cover all sorts of areas, including:

Whatever the nature of your dispute, Jones Whyte can respond to your issue, support you through the process and ensure it is resolved in a positive manner.

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