Subject to section 986, this section applies where a shareholder exercises his rights under section 983 in respect of any shares held by him.
The offeror is entitled and bound to acquire those shares on the terms of the offer or on such other terms as may be agreed.
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 when the shareholder requires the offeror to acquire the shares is equivalent to the consideration offered or (as the case may be) chosen.