Core Viewpoint - The article discusses the practical issues and solutions regarding the protection of existing shareholders' rights during subsequent financing rounds of invested companies, focusing on the review of transaction documents by existing shareholders [2]. Group 1: Key Points on Shareholder Agreement - The Shareholders Agreement (SHA) is a comprehensive document that outlines special rights, corporate governance, commitments, and obligations of shareholders, often including performance commitments, valuation adjustments, and rights such as preemptive rights and anti-dilution rights [3]. - Existing shareholders need to pay attention to the effectiveness of the new shareholder agreement, particularly whether it fully encompasses all special rights obtained during their initial investment and whether it includes any adjustments that may diminish their rights [4][5]. - If the new shareholder agreement replaces the old one, existing shareholders must ensure that all their rights are preserved; otherwise, unincorporated rights may not be protected [4][5]. Group 2: Common Changes in Rights Due to New Shareholder Agreement - Adjustments to repurchase rights may include changes in the order of repayment, the circumstances triggering repurchase, and the calculation of repurchase price, which could negatively impact existing shareholders [8][9]. - The introduction of new investors may lead to more favorable rights for them, such as enhanced repurchase rights or priority in liquidation, which existing shareholders must evaluate and potentially negotiate [8][13]. - Changes in the rights to appoint directors or access information may also occur, often based on the proportion of shares held, which existing shareholders should scrutinize [14]. Group 3: Key Points on Capital Increase Agreement - The Share Purchase Agreement (SPA) outlines the specific arrangements for capital increases, including conditions for closing and representations made by the invested company [15][16]. - Existing shareholders should ensure that the SPA does not impose unreasonable obligations on them, such as commitments that deviate from customary practices or that increase their liabilities [17]. Group 4: Key Points on Revised Company Articles - The revised company articles must align with the actual circumstances of the financing, ensuring that all necessary provisions are included and consistent with the shareholder agreement [18][19]. - Attention should be given to the provisions regarding the loss of rights due to overdue contributions, ensuring there are no conflicts with the capital increase agreement [20]. Group 5: Interconnection of Agreements - It is crucial for existing shareholders to ensure that the shareholder agreement, capital increase agreement, and company articles are consistent and do not contain conflicting provisions, which could lead to disputes over applicability and effectiveness [21].

证券代码：605255 证券简称：天普股份 公告编号：2025-020 宁波天普橡胶科技股份有限公司 关于控股股东及其一致行动人签署《股份转让协议》 《增资协议》暨控制权拟发生变更的公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次权益变动前，浙江天普控股有限公司（以下简称天普控股）系宁波市天 普橡胶科技股份有限公司（以下简称上市公司、公司或天普股份）控股股东，持 有上市公司 75,360,000 股股份，占上市公司总股本的 56.21%，均为无限售条件 的流通股；宁波市天昕贸易有限公司（以下简称天昕贸易）持有上市公司 市普恩投资管理合伙企业（有限合伙）（以下简称普恩投资）持有上市公司 义先生直接持有上市公司 12,000,000 股股份，均为无限售条件的流通股。 尤建义先生持有天普控股 100%的股权，系天普控股和上市公司的实际控制 人，持有天昕贸易 95%的股权并担任执行董事，持有普恩投资 97.3684%的合伙 份额并担任执行事务合伙人，尤建义先生系天普控股、天昕贸易和普恩投资的实 际控 ...