A share purchase agreement is a legally binding document that outlines the terms and conditions of buying and selling shares between parties. The buyer purchases a stake in the company through shares, and the seller agrees to sell a specified number of shares at a predetermined price.

To ensure the accuracy and legality of the agreement, it is recommended to seek the assistance of legal experts who are familiar with the process and procedures involved in such transactions.

Clear terms : A Share Purchase Agreement clearly outlines the terms and conditions of the sale, including the number of shares being sold, the purchase price, and any contingencies

Legal protection : The agreement is a legally binding document that protects both the buyer and seller, reducing the risk of disputes or misunderstandings

Saves time and money : A Share Purchase Agreement can save time and money by avoiding lengthy negotiations between the parties involved in the sale

Flexibility : A Share Purchase Agreement can be tailored to the specific needs of the parties involved, allowing for flexibility in the terms and conditions of the sale

Step 1: Consultation: Nexteel Solutions will consult with both the buyer and the seller to understand their requirements and preferences.

Step 2: Drafting: Based on the consultation,Nexteel Solutions will draft a Share Purchase Agreement that outlines the terms and conditions of the transaction, including the price, the number of shares being sold, the payment terms, and any other relevant details.

Step 3: Review: Both parties will have the opportunity to review and make revisions to the agreement as necessary.

Step 4: Signing: Once the agreement is finalized, both parties will sign the agreement, and the transaction can proceed.

1. Share Transfer Form: Once the sale of shares is completed, the seller is required to provide the buyer with a signed share transfer form that details the shares being transferred and the consideration received

2. Share Certificate:After the transfer of shares, the company needs to cancel the seller’s previous share certificate and provide a new share certificate reflecting the updated shareholdings

3. Letter of Resignation:If a seller decides to resign from the company, they are required to submit their resignation letter prior to or at the time of completion

4. Notification to ASIC: After selling shares, the company needs to inform the ASIC (application-specific integrated circuit) of the change within 28 days. This can be done by submitting Form 484, which is available on the ASIC website