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Simple Share Purchase Agreement

Simple Share Purchase Agreement Template for Pakistan

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Key Requirements PROMPT example:

Simple Share Purchase Agreement

"I need a Simple Share Purchase Agreement for the transfer of 1,000 ordinary shares in my private technology company to a single buyer, with completion scheduled for March 15, 2025, under Pakistani law."

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Document background
The Simple Share Purchase Agreement is a fundamental legal document used in Pakistani corporate transactions for transferring ownership of shares from one party to another. This document is particularly suitable for straightforward share transfers where extensive warranties and complex conditions are not necessary. It complies with the Companies Act 2017 and other relevant Pakistani legislation, making it appropriate for private company transactions. The agreement typically includes essential elements such as details of the shares being transferred, purchase price, payment terms, and basic warranties from both parties. It is commonly used in situations where the parties have already conducted basic due diligence and are comfortable with a simplified transaction structure. The document provides sufficient legal protection while avoiding the complexity of a comprehensive share purchase agreement.
Suggested Sections

1. Parties: Identification of the Seller(s) and Purchaser(s) with complete legal names and addresses

2. Background: Context of the transaction, including brief description of the Company and the parties' intention to sell/purchase shares

3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpreting the agreement

4. Sale and Purchase: Core transaction terms including number of shares being sold and agreement to sell/purchase

5. Purchase Price: Amount payable for the shares and payment mechanics

6. Completion: Details of when and where completion will take place and what will happen at completion

7. Seller's Warranties: Standard warranties about the shares, authority to sell, and company status

8. Purchaser's Warranties: Basic warranties about authority to purchase and financial capacity

9. Confidentiality: Obligations to keep the transaction and company information confidential

10. Notices: How formal notices under the agreement should be given

11. Governing Law and Jurisdiction: Confirmation of Pakistani law as governing law and jurisdiction for disputes

Optional Sections

1. Conditions Precedent: Used when completion is subject to certain conditions being satisfied, such as regulatory approvals

2. Price Adjustment: Include when purchase price may be adjusted based on accounts or other factors

3. Non-Competition: Required when seller needs to be restricted from competing post-sale

4. Tax Indemnity: Detailed tax provisions when specific tax risks need to be allocated

5. Further Assurance: Additional cooperation obligations for post-completion matters

6. Break Fee: Include when parties want to specify compensation if the deal fails

7. Management Handover: Needed when seller has been involved in company management

Suggested Schedules

1. Details of the Company: Company registration details, share capital structure, and other corporate information

2. Details of the Sale Shares: Specific details of shares being sold including share certificate numbers

3. Completion Requirements: List of documents and actions required at completion

4. Warranties: Detailed warranties about the company and its business

5. Disclosed Documents: List of documents provided during due diligence that qualify the warranties

6. Form of Resignation Letters: Template resignation letters for outgoing directors if applicable

7. Board Resolutions: Form of board resolutions approving the share transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Financial Services

Technology

Manufacturing

Real Estate

Retail

Professional Services

Healthcare

Energy

Transportation

Agriculture

Construction

Telecommunications

Relevant Teams

Legal

Corporate Secretarial

Finance

Compliance

Corporate Development

Investment

Executive Leadership

Board of Directors

Relevant Roles

Chief Executive Officer

Managing Director

Company Secretary

Legal Counsel

Corporate Lawyer

Investment Manager

Business Development Manager

Finance Director

Chief Financial Officer

Compliance Officer

Board Director

Company Owner

Shareholder

Investment Analyst

Corporate Advisory Manager

Industries
Companies Act 2017: Primary legislation governing company operations, share transfers, and corporate documentation in Pakistan. Sections 74-86 specifically deal with share transfers and registration.
Contract Act 1872: Fundamental law governing contract formation, validity, and enforcement in Pakistan. Essential for ensuring the Share Purchase Agreement meets basic contractual requirements.
Securities Act 2015: Regulates securities transactions and market operations. Particularly relevant if dealing with listed company shares or public offerings.
Income Tax Ordinance 2001: Governs taxation aspects of share transfers, including capital gains tax implications for both seller and purchaser.
Foreign Exchange Regulation Act 1947: Relevant if the transaction involves foreign investors or cross-border payments, regulating the exchange and transfer of shares between residents and non-residents.
Stamp Act 1899: Governs stamp duty requirements for share transfer documents and agreements in Pakistan.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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