The article discusses if a shareholder who wishes to sell shares can demand a clarification as to whether there is a right of first refusal before the change of ownership has been completed. The author’s conclusion is that there is no access to demand such prior clarification. Furthermore, the article discusses whether a shareholder who wishes to sell shares can make a reservation about the right to reverse the share transfer, so that the right of first refusal cannot be exercised. In this question, the author’s conclusion is that the right to reverse the share transfer with effect for the pre-emptive right holder is lost at the latest upon notification to the company of the share transfer. If the pre-emptive right holder becomes aware of the change of ownership before the company has been notified, this will constitute the latest point in time for when the reverse of the share transfer can be enforced.
1. Innledning
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1.1. Behovet for forhåndsavklaring og forbehold
I utgangspunktet er aksjer fritt omsettelige, se aksjeloven (heretter «asl.») § 4-15 første ledd. Imidlertid følger det av asl. § 4-15 tredje ledd at «aksjeeierne har rett til å overta aksje som har skiftet eier med mindre noe annet er fastsatt i vedtektene». Forkjøpsretten er en omsetningsbegrensning – et unntak fra utgangspunktet om aksjers frie omsettelighet. Formålet med forkjøpsretten er todelt. Forkjøpsretten er et middel for å ...