A Letter of Intent to Sell Shares is a crucial preliminary document used in Irish corporate transactions when a potential seller wishes to formally express their intention to sell shares to a prospective buyer. This document is typically used at the early stages of a share sale transaction, after initial discussions but before detailed due diligence and final negotiations. It outlines key commercial terms such as the proposed purchase price, number of shares, and basic transaction structure, while usually maintaining a non-binding nature except for specific provisions like confidentiality and exclusivity. Under Irish law, particularly considering the Companies Act 2014, this document serves as a roadmap for the transaction while protecting both parties' interests during the negotiation phase. It's particularly valuable in complex transactions or when dealing with multiple stakeholders, as it helps align expectations and establish a clear framework for the proposed deal structure.
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1. Sender and Recipient Details: Full legal names and addresses of both the potential seller and buyer
2. Date: The date of the letter
3. Subject Line: Clear identification that this is a Letter of Intent regarding share sale
4. Introduction: Brief statement of the parties and the purpose of the letter
5. Company Information: Details of the company whose shares are proposed to be sold
6. Transaction Overview: Description of the proposed share sale, including number of shares and preliminary price
7. Key Terms: Outline of the fundamental terms of the proposed transaction
8. Timeline: Proposed schedule for due diligence and completion of the transaction
9. Confidentiality Statement: Basic confidentiality obligations regarding the proposed transaction
10. Non-Binding Nature: Clear statement that the letter is non-binding except for specific provisions
11. Closing: Signature block and formal closing of the letter
1. Exclusivity Period: Used when the seller agrees not to negotiate with other parties for a specified period
2. Break Fee: Include when parties agree to a fee if either party terminates negotiations
3. Due Diligence Process: Detailed when specific due diligence requirements need to be outlined
4. Conditions Precedent: Include when certain conditions must be met before proceeding with the transaction
5. Governing Law Statement: Include when parties want to specify applicable law for binding provisions
6. Costs and Expenses: Used when parties want to clarify responsibility for transaction costs
7. Board Approval: Include when the transaction requires formal board approval
1. Share Information Schedule: Detailed breakdown of the shares proposed to be sold, including class, rights, and current ownership
2. Price Calculation Methodology: If the price is subject to adjustments or calculations, outline the methodology
3. Timeline Schedule: Detailed timeline of key dates and milestones for the proposed transaction
4. Contact Details: List of key contacts for both parties, including legal representatives and advisors
Relevant legal definitions
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Technology
Manufacturing
Retail
Healthcare
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Professional Services
Energy
Telecommunications
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Transportation
Construction
Agriculture
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Relevant Teams
Legal
Finance
Corporate Development
Mergers & Acquisitions
Executive Leadership
Corporate Secretariat
Compliance
Risk Management
Treasury
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Relevant Roles
Chief Executive Officer
Chief Financial Officer
Corporate Lawyer
Legal Counsel
Company Secretary
Investment Director
Mergers & Acquisitions Manager
Corporate Development Manager
Finance Director
Business Development Director
Shareholder
Board Member
Investment Banker
Corporate Broker
Financial Controller
Risk Manager
Compliance Officer
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