We are instructed by this new company, formed to acquire a significant business, to prepare Articles of Association and a Shareholders Agreement for consideration by 19 investing shareholders, providing minority protection, good leaver/bad leaver provisions, drag along and tag along rights, permitted transfers, restrictions on transfer of shares and dividend policy all on the basis that the individual shareholders were expected to take separate legal advice if they wished.
In preparing the Shareholders Agreement we took into account the instructions given to us by the company, setting out the basis terms of agreement between the participants, and the documents were in due course after amendment and negotiation accepted and signed.
