Sale of Shares
Sale of Shares by Private Treaty: General Guidelines
Anybody wishing to sell his shares can advertise on the WhatsApp group forum of the company and at www.twinhuts.co.ke.
Anyone who is not presently in that WhatsApp forum can request to be added by sending an e-mail to invest@twinhuts.co.ke while noting the relevant number, full name and file number.
That email will enable me to update the share register and consequent contact details.
Several members have sold and transferred shares in the past.
For general information only, those interested may note that as on the 20th May 2016:
- The original share having a par price of Kshs. 100,000 was split in 2014 into 10 shares having a par price of Kshs. 10,000.
- The company has been and is still selling split shares at a market price of Kshs. 30,000 + a subscription fee of Kshs. 2,000 (i.e., a total of Kshs. 32,000) per (one) share.
- The split and pricing by THL was informed largely by a valuation carried out on the Windsor project at the end of 2013. At the moment company assets (including investments) are about Kshs. 100 million compared to equity capital of about Kshs. 30 million injected by shareholders. Any further appreciation in the value of Windsor and true value of Syokimau (now at cost) are yet to be factored in the pricing.
- Private treaty sales are guided by the 'willing seller/buyer' principle. THL is not involved in the pricing, negotiations, contracting or payments.
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Parties who strike a deal should firm up the agreement by at least an email copied to invest@twinhuts.co.ke indicating number of shares involved in the transaction and full names of parties as well as an agreement.
Parties may utilise the template agreement available as a download below.
Share Sale Agreement (2016)On receipt of the email:
- the company Secretary will prepare a transfer form to be signed by each party,
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The parties will deliver to the company secretary:
- a duly signed and witnessed agreement,
- signed transfers in triplicate,
- a banking slip for payment of Kshs. 2,000 per share paid into the bank account of the company [TWIN HUTS LTD, KCB Biashara St Branch, A/C No. 110 2532 681 from any KCB branch. KCB TT swift code is KCBLKENX] to cater for the cost of transfer,
- copies of the parties’ PIN and ID cards,
- the original share certificate being the subject of the sale, and
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a form providing the new share holder’s contact details in respect to a transferee who was previously not a shareholder.
NB: The above information/guidelines may change from time to time without notice and it will be imperative to confirm the latest position by an e-mail to invest@twinhuts.co.ke or calling 0716 079235.
Comments
admin
Wed, 05/25/2016 - 15:41
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Thanks
Thanks