Q&A
What does it mean when shareholders are given “first rights of refusal”?

Answer:

Having first rights of refusal means that if you are a shareholder looking to sell your shares, the other existing shareholders have a ‘first right’ to buy them from you. If you are prepared to sell – you must first make an offer to the existing shareholders. You can only make an offer to external third parties if the existing shareholders do not wish to purchase your shares.

Answered by Priscilla Ng

Priscilla is a lawyer. She practises in the areas of business and commercial law, intellectual property and employment law. In her past work experience, she practised in property law, family law, wills and estates, and civil litigation.

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