1 Nov 2023
AIVITA HEALTHY NZ LTD v UNIPHARM MANUFACTURING CO. LTD [2023] NZCA 540
- Citation
- [2023] NZCA 540
- Court
- Court of Appeal
Clause 4.2 of the shareholders agreement objectively incorporated the pre-emptive rights in the contemporaneous draft constitution by reference; the clause properly deemed a transfer notice on certain triggering events (including change of control) and required application of the pre-emptive machinery, but because the price had not been agreed or determined under clause 5.3 the offer had not yet been made under clause 5.4 and the respondents had not lost their rights; the Court affirmed the High Court's order for specific performance requiring the appellant to offer its shares to the other sh…