Section 150: Rights of remaining shareholders.

(1) The following subsections shall have effect when the aggregate number of:
(a) shares included in a class of shares in an offeree company to which the offeror or, where two or more persons constitute the offeror, any of those persons become entitled in consequence of a take-over bid; and
(b) any other shares included in that class to which the offeror or, where two or more persons constitute the offeror, any of those persons, or any company belonging to the same group of companies as that person or any of those persons, was entitled before any bid under the take-over bid was despatched, is not less than ninety per cent of the issued shares included in that class.
(2) The offeror shall, within two months after the date on which the aggregate number of shares referred to in paragraphs (a) and (b) of subsection (1) of this section becomes not less than ninety per cent of the issued shares, give notice of that fact to the holders of the remaining shares included in that class who when the notice is given had not been given notice under subsection (2) of section 146 of this Act.
(3) A holder of the remaining shares referred to in subsection (2) of this section may, within two months after the giving of notice to him under that subsection, require the offeror to acquire shares included in that class of which he is the holder.
(4) Where a shareholder gives notice under subsection (3) of this section with respect to his shares, the offeror shall be entitled and bound to acquire those shares:
(a) on the term on which shares were acquired under the take-over bid; or
(b) on such terms as are agreed or as the court, on the application of the offeror or the shareholder, thinks fit to order.
(5) In determining, for the purposes of paragraph (a) of subsection (4) of this section, the terms on which shares are acquired under a take-over bid, the terms on which the shares of any dissenting offeree were acquired shall be ignored.