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اتفاقية المساهمين
Pacte d'actionnaires
A private contract between the shareholders of a company that governs their rights, obligations, and the management of their relationship. Unlike the MOA/Articles, a shareholder agreement is confidential and not publicly filed. It typically addresses share transfer restrictions (pre-emption rights, tag-along, drag-along), deadlock resolution mechanisms, non-compete and non-solicitation clauses, dividend policies, board composition, reserved matters requiring supermajority approval, and exit provisions (put/call options, IPO triggers). In GCC joint ventures and PE-backed companies, the SHA is often the most commercially critical document.
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