The Letter of Intent to Sell Shares is a crucial preliminary document in Saudi Arabian corporate transactions, typically used when parties have reached initial understanding but before executing definitive agreements. It serves to document the basic terms and conditions of a proposed share sale while allowing parties to proceed with due diligence and detailed negotiations. This document must comply with Saudi Arabian Companies Law, Capital Market Authority regulations, and Sharia principles, particularly when dealing with listed companies or foreign investors. The LOI helps parties structure their negotiations and timeline while maintaining confidentiality and setting expectations for the transaction process. While predominantly non-binding, certain provisions such as confidentiality and exclusivity may be explicitly made binding. The document is especially important in Saudi Arabia's business environment where formal documentation of intentions is highly valued in commercial relationships.
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1. Letter Date and Address Block: Full details of sender and recipient, including company registration details and physical address
2. Subject Line: Clear identification of document as Letter of Intent for Share Sale
3. Introduction: Identification of parties and their authorized representatives
4. Current Shareholding: Description of current share ownership and company details
5. Transaction Intent: Clear statement of intention to sell/purchase shares and basic terms
6. Key Terms: Outline of fundamental terms including number of shares, preliminary price range, and payment terms
7. Due Diligence: Proposed timeline and scope for due diligence process
8. Confidentiality: Statement regarding confidential treatment of discussions and information
9. Non-Binding Nature: Clear statement that the LOI is non-binding except for specific terms
10. Timeline: Proposed timeline for negotiation and completion
11. Closing: Signature blocks and formal closing of letter
1. Exclusivity Period: Include when parties want to negotiate exclusively for a specific period
2. Conditions Precedent: Include when there are specific conditions that must be met before proceeding
3. Governing Law Statement: Include when dealing with international parties to explicitly state Saudi law governance
4. Sharia Compliance: Include specific statement of Sharia compliance when dealing with international parties
5. Break Fee: Include when parties want to specify compensation if either party withdraws
6. Foreign Investment: Include when transaction involves foreign investors and reference to SAGIA requirements
1. Share Details Schedule: Detailed description of shares including class, rights, and current ownership structure
2. Price Calculation Mechanism: If applicable, outline of how the final price will be determined
3. Key Assets Schedule: High-level list of significant company assets included in valuation
4. Timeline Schedule: Detailed timeline of proposed transaction steps and milestones
5. Due Diligence Requirements: List of required documents and information for due diligence process
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Corporate Development Manager
Investment Banker
Strategic Planning Director
Shareholder Relations Manager
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