Advise required - selling minority shares in LTD company

[AlanBOX]

Dear All

Im seeking some advise in the sale of a minority share holding in a LTD company (15%). The company is owned by 2 directors. There is a share holders agreement in place which if I remember rightly does state that the shares must be offered to the other director first. Both directors have service contracts with the company. As with many partnerships one person ends up doing a lot more work than the other, in this case the minority holder. In my mind poor management decisions could effect the buisness in the future and my investment. My concerns are that the other director will not want to buy the shares, my input/knowledge is key to the buisness.

If i didnt have a buyer for my shares then what would happen after my 5 months notice ? - cash in the bank - stock value - share value etc

Surely Iam entitled to something out of the whole thing ? I have been involved with the company for 24 years and a director for 7 out of the 24. I purchased the shares from approx 2001 onwards as the old owner retired.

Regards

AlanBox

[mahutchinson]

If the other directors waive their right to buy the shares then you will need to find an outside buyer. You cannot force them to buy unless the agreement requires them to purchase from you but it's much more likely to simply give them the option (pre-emption rights). If they don't want it you may unfortunately be stuck with it.