Our Shareholder Agreements are some of our most popular Corporate templates. Parties will often set up in business together and if they form a private limited company, they may wish to regulate their relationship through the means of a shareholders’ agreement.
This month starts the process of reviewing and updating this portfolio of templates to revise and modernise them and to make sure they are as user friendly as possible for our customers. We begin with our basic shareholders’ agreements; both where no new shares are being issued and where new shares are being issued to “investors”.
With the introduction of the General Data Protection Regulation (GDPR) an appropriate reference has also been made to GDPR compliance as a management obligation (this is an optional contractual obligation) but one that companies may increasingly wish to put into writing in an agreement such as a shareholders’ arrangement.
A selection of new clauses has been added, including a simple non-compete clause, a clause on the appointment and removal of directors and simple warranties as to each shareholder’s ability to enter into the agreement.
We will continue to update and roll out our other Shareholders’ Agreements in the coming months.
The contents of this Newsletter are for reference purposes only and do not constitute
legal advice. Independent legal advice should be sought in relation to any specific