Where an offeror or offeree and persons acting in concert:
(a) made an offer for all the shares in an offeree company; and
(b) in pursuance to the offer having received 90% or higher level of acceptance of the offer shares to which the offer relates,
dissenting shareholders may, send a request to the offeror, requiring the offeror to acquire his/her shares within three months beginning immediately after the day on which the offer receives 90% or more acceptances. The offeror is bound to acquire those shares on the terms of the take-over offer within three months from the date of receiving the request from the dissenting shareholders.
Added: January 2022
