Common use of FURTHER ISSUE AND TRANSFER OF SHARES Clause in Contracts

FURTHER ISSUE AND TRANSFER OF SHARES. None of the Shareholders shall effect any transfer, mortgage, charge or other disposal of the whole or any part of their interest in, or grant any option, Encumbrance or other rights over, any shares in the capital of the Company to any person nor shall the Company issue any shares or equity securities (as defined in section 560 of the Act), to any person who is not a party to this agreement without first obtaining from the transferee or subscriber an Adherence Agreement [save in respect of the grant or exercise of an option pursuant to the Share Option Plan] unless otherwise approved by the Board. The Adherence Agreement shall be in favour of the parties to this agreement and shall be delivered to the Company at its registered office [and to the Investors]. Subject to clause 9.1, no share transfer or issue of shares shall be registered by the Board unless such Adherence Agreement has been delivered in accordance with this clause 9 (Further issue and transfer of shares).

FURTHER ISSUE AND TRANSFER OF SHARES. 9.1. None of the Shareholders shall effect any transfer, mortgage, charge or other disposal of the whole or any part of their interest inof, or grant any option, Encumbrance or other rights over, the whole or any part of his, her or its interest in any shares in the capital of the Company to any person nor shall the Company issue any shares or equity securities (as defined in section 560 of the Act), to any person who is not a party to this agreement without first obtaining from the transferee or subscriber an a duly executed Deed of Adherence Agreement [save in respect of the grant or exercise of an option pursuant to the Share Option Plan] unless otherwise approved by the Board. 9.2. The Deed of Adherence Agreement shall be in favour of the parties to this agreement and shall be delivered to the Company at its registered office [and to the Investors]office. Subject to clause 9.1, no share transfer or issue of shares shall be registered by the Board unless such Deed of Adherence Agreement has been delivered in accordance with this clause 9 (Further issue and transfer of shares).