Sell Shares

steampowered

The timescale for payment will depend on what is specified in your contract.

If no timescale is specified in your contract, the law will imply a "reasonable" time for payment - perhaps 14 days.

Ownership of the shares will pass when the stock transfer form has been signed and dated. There is no reason why that needs to be on the same date as payment.

There will only be a legally binding contract once the documentation has been signed and dated by all parties ... if you have signed by the company hasn't, no legal contract has yet come into force.

cadman79

bowlhead99 said:

cadman79 said:

AnotherJoe said:

If they don't intend to pay you then it doesn't matter how they intended to pay - cheque, bacs whatever. Your remedy would be legal. And IANAL but surely until you have the money the shares are still yours?

I would have thought so too... So they have issued me a contract with their offer. I have signed offer and sent back.. The offer was signed by a director.. So surely thats very legally binding 

A signed offer that's been accepted and your part of the bargain fulfilled, is legally binding on them to do their part. When people go to court about broken agreements, they rely on their paperwork and it sounds like you have it. But the sale isn't final (like buying or selling a house) if both parties haven't signed on the dotted line that the purchase is going to happen, and it isn't complete until both parties have  given their consideration (the shares in one direction and the cash or cheque in the other).  So if you didn't get paid, you haven't sold the shares.

Whether or not they will be paying you tomorrow, or they break the agreement and don't pay you at all, or break the agreement and pay you much later than whatever date is specified in the agreement, or what you had verbally agreed, is not something that we can speculate on, as we don't know you or them or the circumstances.

There is not a lot to be gained by your speculating in public (albeit an anonymous forum) about whether they might delay payment or change their mind entirely and not buy your shares. Either they will and you can get a solicitor on the case to see what rights your agreement gives you, or they won't and it's fine.

Thanks Bowlhead, 
Your advice is very appreciated.. 

cadman79

Thrugelmir said:

Is the Company repurchasing them or another shareholder? 

Its a company buying back 

cadman79

steampowered said:

The timescale for payment will depend on what is specified in your contract.

If no timescale is specified in your contract, the law will imply a "reasonable" time for payment - perhaps 14 days.

Ownership of the shares will pass when the stock transfer form has been signed and dated. There is no reason why that needs to be on the same date as payment.

There will only be a legally binding contract once the documentation has been signed and dated by all parties ... if you have signed by the company hasn't, no legal contract has yet come into force.

Signed by them and sent to me for signing.. So I would think legally binding.. 
Thank you for advice...