I I want to sell my 95 percent share in business

[pulyk]

I own 95 percent in a business and now wish to retire, can i sell my shares to someone who wishes to take my place even though my business partner does not want me to sell my shares. He expects me to just leave and let him continue trading. The business runs at a profit and currantly has several healthy contracts and a good client basis

 

[What If]

I own 95 percent in a business and now wish to retire, can i sell my shares to someone who wishes to take my place even though my business partner does not want me to sell my shares. He expects me to just leave and let him continue trading. The business runs at a profit and currantly has several healthy contracts and a good client basis

Why don't you just sell to your partner?:|

 

[Unicora]

What is your business?

 

[kulture]

Why does he want you to keep your shareholding? How can he stop you? Why not keep the shares and keep getting dividend? I must admit I feel that you are not telling us the whole picture.

 

[LawHound]

More importantly what does your shareholder agreement or memo of articles say about sale of shares? Definitely need to get more of the whole picture here, PM us for more information.

 

[Rhodes100]

This could get messy as no buyer would be interested in purchasing the share and having to work with a shareholder who is on paper quite difficult to deal with.

What they may be afraid about is that a new owner will not run the business as well and they would not receive the same ROI as they have with you.

A shareholders agreement may state that the shares have to be offered to them first, but they cant stop you selling.

Perhaps a work a round is to inform the minority shareholder that you are definately selling, but offer to buy them out first.