Share transfer order

A share transfer order (ordre de mouvement de titres) is the legal form used in France to formalise the transfer of registered shares in an SA or of partnership interests in a SARL, signed by the transferor. It is recorded in the company's share movement register, which constitutes legal proof of the ownership transfer. In M&A, execution of share transfer orders at closing is a mandatory legal formality — organised simultaneously with the payment of the acquisition price. Its absence or irregularity may invalidate the ownership transfer.

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Example: at the closing of a 60% SARL acquisition for CHF 6.0 million, the buyer wire transfers the price and the seller simultaneously signs the share transfer order for the transferred interests. The order is immediately recorded in the share movement register — formalising the ownership transfer effective from this date and triggering the buyer's rights as majority shareholder.

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Hectelion organises and supervises share transfer orders in French M&A closings, coordinating with both parties' legal counsel to ensure timing and legal compliance.