If a majority shareholder wants to sell its shares but a minority shareholder is not willing to give its consent, it is important to include a provision that requires that shareholder to sell its shares. This is often referred to as the „Drag Along“ provision. This will then allow the majority shareholder to realize his investment at a time and price that he deems reasonable. Of course, the price and other payments for the sale must be fair to all shareholders, including minority shareholders. A shareholders` pact is, as they might expect, an agreement between the shareholders of a company. It may be between all shareholders or, in some cases, only a few (for example. B holders of a certain class of shares). Ziel ist es, die Beteiligung der Aktionäre in das Unternehmen zu schützen, ein faires Verhältnis zwischen den Aktionären herzustellen und die Art und Weise zu regeln, wie das Unternehmen geführt wird. .

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. . . . . . . . . . This clause ensures that shareholders retain control of the share transfer and generally includes restrictions such as the right of pre-emption, the right to refuse the transfer and the board`s agreement for the transfer. It is a useful document for all shareholders of the company, whether the shareholder is a minority or majority shareholder of the proposed company.

PandaTip: This model of shareholder agreements defines the conditions for shareholder interaction and what happens when one or more of them want to leave the company or something happens that forces the exit of a shareholder or the closure of the company. 13.1 A shareholder of the company has no right, directly or indirectly, to participate in business or to participate in other matters that directly or indirectly compete with the company. A certain veto may be advantageous for certain types of shareholders, such as . B private equity investors. Veto rights can be created by shareholder agreement for certain measures. Some of the veto measures may include amending the statutes, approving the budget, borrowing, issuing shares and replacing the CEO. Small private companies often have shareholders who take on certain, if not all, directors. Thus, such conditions can be introduced to ensure that they do not abuse their powers when they eventually leave the company and to ensure the protection of the company. The strategic advantage of including it in the shareholders` pact is controversial. These clauses apply at least to executives, employees, consultants, agents and other parties through an independent contract. These rights give shareholders the right to maintain their current shareholding and avoid dilution.

Among the most important factors to consider in granting such rights are the issuance of securities that do not trigger pre-emption rights (i.e.: