How to sell shares

[CharlesM]

A friend of mine has a number of shares in a local wi-fi company, which he wants to sell. That sounds simple, but I've heard he's not allowed advertising these shares.

How does one go about selling such shares? Is the only way to ask everyone he knows?

 

[DJ...]

Call Computershare or Link Market Services. Or speak to a broker - your bank can help. It's not an over-the-counter trade...

 

[milomak]

From the sound of things you are not talking about a JSE listed company?

 

[DJ...]

From the sound of things you are not talking about a JSE listed company?

Could be an AltX listing...

 

[wizdumb]

dunno, you would need to speak to your broker or a brokerage firm

 

[milomak]

Could be an AltX listing...

ah yes

 

[CharlesM]

From the sound of things you are not talking about a JSE listed company?

No, it's not a listed company.

 

[CharlesM]

Call Computershare or Link Market Services. Or speak to a broker - your bank can help. It's not an over-the-counter trade...

Awesome, thanks! I'll find out from them. Maybe they can point me in the right direction if they're unable to assist.

 

[DJ...]

No, it's not a listed company.

Try selling them to the other shareholders then...

 

[milomak]

There should be a legal document that you have showing that you own shares in said company which makes you an x% owner. there should also be a shareholders agreement which should detail the conditions of being a shareholder.

you will then most likely need to get the statments audited and find a company that will then evaluate the worth of the company. steps of selling may be included in something like a shareholders agreement.

basically get the document you should have received when you bought the shares and use that as a starting point.

 

[CharlesM]

He's got the share certificate, will find out about a shareholder's agreement.

 

[guest2013-1]

As far as I know the reason he can't advertise this is because he can't privately trade these shares, it has to be traded on the JSE or wherever. If this local wifi company is not listed on the JSE then the shares can be advertised as it's not bound to those rules

 

[AirWolf]

As far as I know the reason he can't advertise this is because he can't privately trade these shares, it has to be traded on the JSE or wherever. If this local wifi company is not listed on the JSE then the shares can be advertised as it's not bound to those rules

Unless the shareholders agreement states otherwise ie the terms of sale; offer to other shareholders first etc.

 

[CharlesM]

Unless the shareholders agreement states otherwise ie the terms of sale; offer to other shareholders first etc.

I have requested a copy of the shareholder's agreement from their shareholder administrator... Let's see what it says.

 

[guest2013-1]

Yep, depends on the agreement, but usually you can resell the shares no problem... even advertise. But all depends

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