Deed of Adherence

Formats:

Overview

Use this Deed of Adherence to join a new shareholder to an existing shareholders agreement.

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Deed of Adherence Template

A Deed of Adherence is used when a new shareholder joins a company which has a shareholders agreement in place. This Deed is commonly used when shares of an existing shareholder are transferred to a new shareholder. 

Any shareholder who wishes to dispose of their shares or transfer them to another person must check with the original shareholder agreement that they are able to do this and for the correct procedure that they must follow. In some cases it is not permitted to transfer or sell shares to another person under the shareholder agreement. 

The company will assess whether the person wishing to obtain the shares is permitted to hold such shares. The company will register the new shareholder once they have signed the Deed of Adherence. The new shareholder will be bound to the original shareholders agreement under the Deed of Adherence.

The company cannot register the individual as the new shareholder until the shares are transferred through the Deed of Adherence. If the shares are not transferred through a Deed of Adherence, the shareholder will be in breach of the provisions of the original shareholder agreement. 

Using our Deed of Adherence Template

The Deed of Adherence template can be easily customised to fulfil your business needs depending on the number of shares you wish to transfer to new shareholders.

Once the Deed has been signed it will be enforceable and you should keep it together with your shareholders agreement. The Deed Template can be re-used every time you wish to transfer shares to new shareholders.

Associated Documents

Our template Shareholders Agreement is a comprehensive and up to date document that you can use to regulate the relationships between the shareholders in your company. We also have a variety of other Business Documents that are essential to have in place when running a small business.