The issue between the parties is simply about the transfer of shares and payment thereof. I will describe the parties as plaintiff and defendant as they were in the trial court. From the record of appeal all the dealings in the shares of the company that came before the court were governed by written agreements. Very pivotal to a decision in this appeal is the Share Transfer Agreement of the 15th October 2008 tendered in evidence as exhibit E, found at page 270 of the record of appeal. Let me state in brief what my understanding of this case is.
There was an earlier Share Transfer Agreement made on the 18th Day of December 2006 by which the defendant company, Gold Coast Securities Ltd (GCSL) acquired 18% of the shares of the company Expandable Polystyrene Products and Trading Limited (EPPL). It is clear from this agreement that this was at the time that the Company, like several other companies were experiencing downward trend in their financial fortunes. Somewhere aro…