Revised Laws of Saint Lucia (2021)

234.   Recourse of dissenting shareholder

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    (1)   If section 235 applies, the company shall within 10 days after the making of an order under section 232(3), notify each dissenting shareholder that it is unable lawfully to pay dissenting shareholders for their shares.

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    (2)   If section 235 applies, a dissenting shareholder, by written notice delivered to the company within 30 days after receiving a notice under subsection (1) —

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      (a)     may withdraw his or her notice of dissent, in which case the company consents to the withdrawal and the shareholder is re-instated to his or her full rights as a shareholder; or

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      (b)     may retain a status as a claimant against the company entitled to be paid as soon as the company is lawfully able to do so, or, in a winding-up, to be ranked subordinate to the rights of creditors of the company, but in priority to the company's shareholders.