Document background
The Sale And Purchase Agreement Of Shares is a fundamental document used in corporate transactions in the Philippines when transferring ownership of company shares. It is essential when shareholders wish to sell their stake in a company, during corporate restructuring, in merger and acquisition deals, or when implementing investment strategies. The agreement must comply with the Philippine Revised Corporation Code, Securities Regulation Code, and other relevant local legislation. It typically includes detailed provisions on share valuation, payment terms, conditions precedent (including regulatory approvals), warranties, and post-completion obligations. For foreign investors, additional considerations regarding foreign ownership restrictions under Philippine law must be addressed. The document serves as both a legal record of the transaction and a roadmap for its implementation, often requiring coordination with various regulatory bodies such as the Securities and Exchange Commission and, where applicable, the Philippine Competition Commission.
