1. Confirm the withdrawal and prepare relevant materials. Investors should submit a written application to the joint-stock company, explaining the reasons for withdrawing shares and the number of shares. And prepare personal identification and other related materials.
2. Confirm the withdrawal price. A joint-stock company shall determine the withdrawal price in accordance with laws and regulations and the articles of association, and notify the investors.
3. Sign an exit agreement. The joint-stock company and the investor shall sign a withdrawal agreement, specifying the quantity, price and date of withdrawal.
4. Go through the withdrawal procedures. Investors should submit the withdrawal agreement, personal identity certificate and other relevant materials to the joint-stock company, and go through the withdrawal procedures after being examined and confirmed by the joint-stock company.
5. Received the withdrawal. The joint-stock company shall transfer the withdrawal money into the account designated by the investor in accordance with the withdrawal agreement.
The conditions that a joint-stock company needs to meet when withdrawing shares are as follows:
1. Conditions for withdrawing shares stipulated in the Articles of Association;
2. The resolution of withdrawing shares adopted by the shareholders' meeting;
3. The withdrawal conditions stipulated in the agreement signed between the company and the shareholders;
4. Conditions for withdrawing shares stipulated by law;
5. Fulfilling obligations: Shareholders need to fulfill relevant obligations before withdrawing shares, such as paying off debts and fulfilling contracts.
6. Approval: The company needs to review the application of shareholders and adjust and deal with their shares to ensure that the shareholder structure of the company meets the requirements of the law and the Articles of Association.
To sum up, the specific procedures and requirements for the withdrawal of shares of joint-stock companies may be different due to factors such as company size, types of shares, laws and regulations. Before withdrawing shares, investors should understand the relevant regulations of the company and go through the relevant procedures according to the regulations.
Legal basis:
Article 74 of the Company Law of People's Republic of China (PRC)
In any of the following circumstances, the shareholders who voted against the resolution of the shareholders' meeting may request the company to purchase its equity at a reasonable price:
(a) the company has not distributed profits to shareholders for five consecutive years, but the company has made profits for five consecutive years and meets the conditions for distributing profits as stipulated in this Law;
(2) The merger, division or transfer of the company's main property;
(3) Upon the expiration of the business term stipulated in the Articles of Association or other reasons for dissolution stipulated in the Articles of Association, the shareholders' meeting will adopt a resolution to amend the Articles of Association to make the Company survive.
If the shareholders and the company fail to reach an equity purchase agreement within 60 days from the date of adoption of the resolution of the general meeting of shareholders, the shareholders may bring a lawsuit to the people's court within 90 days from the date of adoption of the resolution of the general meeting of shareholders.