203. Notice to dissenting shareholders
An offeror may acquire shares held by a dissenting offeree by sending, by registered post, within 60 days after the date of termination of the take-over bid, and in any event within 180 days after the date of the take-over bid an offeror's notice to each dissenting offeree and to the Registrar stating—
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(a) that offerees who are holding 90% or more of the shares to which the bid relates accepted the take-over bid;
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(b) that the offeror is bound to take up and pay for or has taken up and paid for the shares of the offerees who accepted the take-over bid;
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(c) that a dissenting offeree is required to elect—
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(i) to transfer his or her shares to the offeror on the terms on which the offeror acquired the shares of the offerees who accepted the take-over bid, or
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(ii) to demand payment of the fair value of his or her shares in accordance with sections 209 to 212 by notifying the offeror within 20 days after the dissenting offeree receives the offeror's notice;
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(d) that a dissenting offeree who does not notify the offeror in accordance with paragraph (c)(ii) is presumed to have elected to transfer his or her shares to the offeror on the same terms as the offeror acquired the shares from the offerees who accepted the take-over bids; and
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(e) that a dissenting offeree shall send those shares of his or her to which the take-over bid relates to the offeree-company within 20 days after he or she receives the offeror's notice.