981 Effect of notice under section 979
981 Effect of notice under section 979
Companies Act 2006 | Legislation

(1)     Subject to section 986 (applications to the court), this section applies where the offeror gives a shareholder a notice under section 979.

(2)     The offeror is entitled and bound to acquire the shares to which the notice relates on the terms of the offer.

(3)     Where the terms of an offer are such as to give the shareholder a choice of consideration, the notice must give particulars of the choice and state—

(a)     that the shareholder may, within six weeks from the date of the notice, indicate his choice by a written communication sent to the offeror at an address specified in the notice, and

(b)     which consideration specified in the offer will apply if he does not indicate a choice.

The reference in subsection (2) to the terms of the offer is to be read accordingly.