979 Right of offeror to buy out minority shareholder
979 Right of offeror to buy out minority shareholder
Companies Act 2006 | Legislation

(1)     Subsection (2) applies in a case where a takeover offer does not relate to shares of different classes.

(2)     If the offeror has, by virtue of acceptances of the offer, acquired or unconditionally contracted to acquire—

(a)     not less than 90% in value of the shares to which the offer relates, and

(b)     in a case where the shares to which the offer relates are voting shares, not less than 90% of the voting rights carried by those shares,

he may give notice to the holder of any shares to which the offer relates which the offeror has not acquired or unconditionally contracted to acquire that he desires to acquire those shares.

(3)     Subsection (4) applies in a case where a takeover offer relates to shares of different classes.

(4)     If the offeror has, by virtue of acceptances of the offer, acquired or unconditionally contracted to acquire—

(a)     not less than 90% in value of the shares of any class to which the offer relates, and

(b)     in a case where the shares of that class are voting shares, not less than 90% o

Popular documents