how to sell off Pte Lte shares?

[RealSingaporean]

please help.
i have some shares of a sg pte ltd.
how to sell it away?
do i need to get a laywer?
how is the amount calculate? (number of share only or the amount of company asset multiply by amount of shares?
how long will it take to get all this done?
thanks.

 

[Ramseth]

Private company shares, find accountants and lawyers.

Nobody here can advise you, and you shouldn't seek or heed advice here too.

 

[Cestbon]

Small company. You have to settle with your partner privately is the best. Is really hard to justify the real price.
So give and take if you thinking of letting go. Office table,PC,Server...... have to write off. And if have stock in store how will you justify. Some sure are old and cannot sell so also need to write off. If not your partner will ask your bring back those stock as your own share.

 

[Leongsam]

please help.
i have some shares of a sg pte ltd.
how to sell it away?
do i need to get a laywer?
how is the amount calculate? (number of share only or the amount of company asset multiply by amount of shares?
how long will it take to get all this done?
thanks.

Buy out the other shareholders and then take the company public.

 

[shelltox]

maybe have to sell it privately

 

[Leongsam]

maybe have to sell it privately

Duh! How else do you sell shares that aren't listed????

 

[jimmyfallon]

please help.
i have some shares of a sg pte ltd.
how to sell it away?
do i need to get a laywer?
how is the amount calculate? (number of share only or the amount of company asset multiply by amount of shares?
how long will it take to get all this done?
thanks.

Whats the situation? Give us the whole juicy scoop.

 

[fukyuman]

Old con this one. People bought shares and was given cash receipts instead. Meanwhile, scammer runs company down by drawing large sums for salary and expenses.When victim offered to sell back share, scammer says its all in the nails, fitting and what not. Victim is advised to sell his share to another unsuspecting victim. Common in the seafood and restaurant industry. In Thailand, villagers bought shares in terms of one truck wheel, steering etc. Next time make sure you have controlling shares so you can give yourself salary and charging your daughter's wedding as company expenses.

please help.
i have some shares of a sg pte ltd.
how to sell it away?
do i need to get a laywer?
how is the amount calculate? (number of share only or the amount of company asset multiply by amount of shares?
how long will it take to get all this done?
thanks.

 

[SotongMee]

The TS must a dick head, he did not even consider this when he put in his investment into the business.

Now must pay for a good lawyer and accountant to finish the matter.

Old con this one. People bought shares and was given cash receipts instead. Meanwhile, scammer runs company down by drawing large sums for salary and expenses.When victim offered to sell back share, scammer says its all in the nails, fitting and what not. Victim is advised to sell his share to another unsuspecting victim. Common in the seafood and restaurant industry. In Thailand, villagers bought shares in terms of one truck wheel, steering etc. Next time make sure you have controlling shares so you can give yourself salary and charging your daughter's wedding as company expenses.

 

[SotongMee]

The TS must a dick head, he did not even consider this when he put in his savings as investment
into the business. He must be loaded with cash.

Now must pay for a good lawyer and accountant to finish the matter now.

Wonder what is at stake, a million, half a million or quarter of a million ?

Old con this one. People bought shares and was given cash receipts instead. Meanwhile, scammer runs company down by drawing large sums for salary and expenses.When victim offered to sell back share, scammer says its all in the nails, fitting and what not. Victim is advised to sell his share to another unsuspecting victim. Common in the seafood and restaurant industry. In Thailand, villagers bought shares in terms of one truck wheel, steering etc. Next time make sure you have controlling shares so you can give yourself salary and charging your daughter's wedding as company expenses.

 

[jw5]

please help.
i have some shares of a sg pte ltd.
how to sell it away?
do i need to get a laywer?
how is the amount calculate? (number of share only or the amount of company asset multiply by amount of shares?
how long will it take to get all this done?
thanks.

Is it one of those cases where the company was formerly listed, then got taken private but you didn't accept the exit offer?

 

[RealSingaporean]

the actual story have to date back to decade. the investment money was very small long ago, i was told. now hae growth to near 6 digit. anyway the shares was give to me by a relative and transfer to my name this year. i read the annual report already. Is one dollars a shares, i only own less than 10% of the company. the amount to me is not big not small, near 6 digit amount.
the company buy lots of sgx listed company shares mkt value amount to 10 millions.

any advice? does it pay to get a laywer and account?

 

[JayBee]

near 6 digit means tens of thousands. Shares are easily converted for cash. So if this company were to sell off all the shares and convert to cash, they would have $10million in the bank account. So having 10% would mean you have $1million. So your story has quite a bit of holes you need to patch, ie. doesn't sound right.

 

[n1etzche]

you should get allen and gledhill as your legal advisor and goldman sachs to do the due diligence. hahaha

the actual story have to date back to decade. the investment money was very small long ago, i was told. now hae growth to near 6 digit. anyway the shares was give to me by a relative and transfer to my name this year. i read the annual report already. Is one dollars a shares, i only own less than 10% of the company. the amount to me is not big not small, near 6 digit amount.
the company buy lots of sgx listed company shares mkt value amount to 10 millions.

any advice? does it pay to get a laywer and account?

 

[Ramseth]

Anyway, in Singapore, Pte. Ltd. shares can't be sold to anyone at whatever price without board approval. That's why it's called private.

 

[Unrepented]

Ask existing shareholders if they want your shares. If they want it then company got future, if they not keen, then you know lor.

Anyway, you may be able to sell at a premium if an existing shareholder want to have a bigger shareholding for voting rights or controlling interest.

Premium comes from the forecast of the company future earnings; "goodwill".

Valuation is never accurate, so it will be a case of willing buyer, willing seller. But the above are some of the factors to consider before you decide to close the deal.

Go http://www.singaporelaw.sg/content/CompanyLaw.html

the actual story have to date back to decade. the investment money was very small long ago, i was told. now hae growth to near 6 digit. anyway the shares was give to me by a relative and transfer to my name this year. i read the annual report already. Is one dollars a shares, i only own less than 10% of the company. the amount to me is not big not small, near 6 digit amount.
the company buy lots of sgx listed company shares mkt value amount to 10 millions.

any advice? does it pay to get a laywer and account?

 

[scroobal]

Would advice to get an accountant and then a lawyer. The accountant will appraise the value. He may negotiate on your behalf or recommend a lawyer. These things can be a drawn out affair. Private companies tend to undervalue to avoid their small shareholders getting ideas. If they are prepared to buy over, they will pay a high premium to keep it within their control.

The accountant will also able to tell if they are behaving oppressively. That is they have been incurring unnecessary expenses for personal reasons so that you end up with smaller dividends.

Whatever it is don't show you are desperate to sell.

please help.
i have some shares of a sg pte ltd.
how to sell it away?
do i need to get a laywer?
how is the amount calculate? (number of share only or the amount of company asset multiply by amount of shares?
how long will it take to get all this done?
thanks.

 

[scoopdreams]

Actually, besides getting an accountant and a lawyer, the most important thing is to find a buyer. Basically, you are getting someone to hold shares in a private limited - if you get a business profile for the company, it should state the paid-up capital, along with shares assigned to each owner/director/etc.

You can roughly estimate how much you would like to sell for before engaging an accountant and a lawyer. Most importantly, you need to convince the buyer of the business model's value proposition.

So final suggestion: 1) source for interested buyers, explain to them if they are really interested can get an accountant to do a valuation of the worth, 2) once they are agreeable, negotiate for engaging a lawyer with split costs to transfer ownership of shares.

Before you even source for interested parties, don't bother trying to get an accountant and a lawyer - you pay them, can't find buyer, you are even deeper in the red.

 

[RealSingaporean]

first thanks for the advices.

currently all info obtain was by word of mouth. i will do a proper check on the paid up capital later. i will access the balance sheet and p&l together, also will find out what it main biz operation when i back in sg. hope brothers can advise me further when i have more info.

 

[scroobal]

You should not give advice if you have no clue about private companies and shareholding.

1) There is a reason why I asked him to get an accountant first.

2) There is also a reason why I did not ask him to look for a buyer.

Can you guess why? Anyone else has the answer can also contribute. By the way, he can look at the Balance Sheet, PL and the paid up shares and it will not help him. Can you guess why?

Actually, besides getting an accountant and a lawyer, the most important thing is to find a buyer. Basically, you are getting someone to hold shares in a private limited - if you get a business profile for the company, it should state the paid-up capital, along with shares assigned to each owner/director/etc.

You can roughly estimate how much you would like to sell for before engaging an accountant and a lawyer. Most importantly, you need to convince the buyer of the business model's value proposition.

So final suggestion: 1) source for interested buyers, explain to them if they are really interested can get an accountant to do a valuation of the worth, 2) once they are agreeable, negotiate for engaging a lawyer with split costs to transfer ownership of shares.

Before you even source for interested parties, don't bother trying to get an accountant and a lawyer - you pay them, can't find buyer, you are even deeper in the red.