(1) Subject to section 986, this section applies where a shareholder exercises his rights under section 983 in respect of any shares held by him.
(2) The offeror is entitled and bound to acquire those shares on the terms of the offer or on such other terms as may be agreed.
(3) Where the terms of an offer are such as to give the shareholder a choice of consideration -
(a) the shareholder may indicate his choice when requiring the offeror to acquire the shares, and
(b) the notice given to the shareholder under section 984(3) -
(i) must give particulars of the choice and of the rights conferred by this subsection, and
(ii) may state 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.
(4) Subsection (3) applies whether or not any time-limit or other conditions applicable to the choice under the terms of the offer can still be complied with.
(5) If the consideration offe
…