Subject to section 986 (applications to the court), this section applies where the offeror gives a shareholder a notice under section 979.
The offeror is entitled and bound to acquire the shares to which the notice relates on the terms of the offer.
Subsection (3) applies whether or not any time-limit or other conditions applicable to the choice under the terms of the offer can still be complied with.
If the consideration offered to or (as the case may be) chosen by the shareholder—
is not cash and the offeror is no longer able to provide it, or
was to have been provided by a third party who is no longer bound or able to provide it,
the consideration is to be taken to consist of an amount of cash, payable by the offeror, which at the date of the notice is equivalent to the consideration offered or (as the case may be) chosen.