Article 239 of Companies Law

If the memorandum of association of a closed shareholding company contains a provision granting shareholders priority in purchasing shares, a shareholder must, before disposing of them, notify the company of the terms of sale. The disposition of the shares shall not be effective until ten days have elapsed from the date of notification without any shareholder submitting a request to purchase the shares. If a shareholder comes forward to purchase the shares, the purchase must be made at the price stated in the terms of sale.