(1) This Regulation applies where an offeror, pursuant to acceptance of a bid for the beneficial ownership of all the securities (other than the securities already in the beneficial ownership of the offeror) in the capital of a company or other body corporate falling within Regulation 22(1), has acquired, or unconditionally contracted to acquire, some but not all of the securities to which the offer relates and the securities so acquired or unconditionally contracted to be acquired -

(a) amount to not less than nine tenths in nominal value of the securities affected, and

(b) carry not less than nine tenths of the voting rights attaching to the securities affected.

(2) Where this Regulation applies -

(a) the offeror shall, within 1 month from the circumstances referred to in paragraph (1) having arisen, give to all holders of securities in the offeree company not in the beneficial ownership of the offeror notice of the existence of those circumstances, and

(b) any such holder may, within 3 months from the giving of that notice to him or her, require, by notice given to the offeror, the offeror to acquire his or her securities,