A Board Resolution For Sale of Company is required when a company registered in England and Wales is being sold to another entity. This document demonstrates that the board has properly considered and approved the sale in accordance with their duties under the Companies Act 2006. It should be prepared when the sale terms have been negotiated and due diligence is complete, but before the sale agreement is executed. The resolution typically includes details about the consideration, key terms, any required approvals, and confirmation that the directors believe the sale is in the company's best interests.
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1. Title and Date: Details of the company and date of resolution
2. Attendance: List of directors present and confirmation of quorum
3. Notice and Quorum: Confirmation that proper notice was given and quorum requirements met
4. Background: Context of the proposed sale and key terms
5. Resolutions: Formal decisions approved by the board
6. Closure: Signature block and company seal (if required)
1. Conflicts of Interest: Required when any directors have interests to declare in relation to the sale transaction
2. Shareholder Approval: Reference to shareholder approval requirements when sale requires shareholder approval under Articles or law
3. Regulatory Approvals: Details of required regulatory clearances when sale requires regulatory approval
1. Sale Agreement: Copy or summary of the main sale agreement
2. Valuation Report: Independent valuation of the company (if obtained)
3. Due Diligence Summary: Key findings from due diligence process
4. Director Certificates: Certificates confirming directors' approval and solvency statements
Relevant legal definitions
Company
Board
Directors
Articles of Association
Sale Agreement
Completion Date
Purchase Price
Purchaser
Business Day
Conditions Precedent
Shareholders
Transaction Documents
Completion
Consideration
Due Diligence
Encumbrances
Material Adverse Change
Regulatory Approvals
Share Capital
Warranties
Working Day
Chairman
Company Secretary
Meeting
Resolution
Quorum
Authorised Signatories
Board
Directors
Articles of Association
Sale Agreement
Completion Date
Purchase Price
Purchaser
Business Day
Conditions Precedent
Shareholders
Transaction Documents
Completion
Consideration
Due Diligence
Encumbrances
Material Adverse Change
Regulatory Approvals
Share Capital
Warranties
Working Day
Chairman
Company Secretary
Meeting
Resolution
Quorum
Authorised Signatories
Clauses
Notice of Meeting
Quorum Declaration
Meeting Chair
Documents Tabled
Declarations of Interest
Sale Consideration
Transaction Terms
Purchase Price
Payment Terms
Completion Conditions
Board Approval
Director Authority
Execution of Documents
Regulatory Compliance
Shareholder Approval
Document Filing
Due Diligence
Company Valuation
Employee Matters
Asset Transfer
Intellectual Property
Confidentiality
Record Keeping
Company Seal
Signature Authority
Quorum Declaration
Meeting Chair
Documents Tabled
Declarations of Interest
Sale Consideration
Transaction Terms
Purchase Price
Payment Terms
Completion Conditions
Board Approval
Director Authority
Execution of Documents
Regulatory Compliance
Shareholder Approval
Document Filing
Due Diligence
Company Valuation
Employee Matters
Asset Transfer
Intellectual Property
Confidentiality
Record Keeping
Company Seal
Signature Authority
Relevant Industries
Relevant Teams
Relevant Roles
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