Section 111 — Companies Act 1993: Notice requiring purchase

111 Notice requiring purchase (1) A shareholder of a company who is entitled to require the company to purchase shares by virtue of section 110 or section 118 of this Act may,— (a) Within 10 working days of the passing of the resolution at a meeting of shareholders; or (b) Where the resolution was passed under section 122 of this Act, before the expiration of 10 working days after the date on which notice of the passing of the resolution is given to the shareholder,— give a written notice to the company requiring the company to purchase those shares. (2) Within 20 working days of receiving a notice under subsection (1) of this section, the board must— (a) Agree to the purchase of the shares by the company; or (b) Arrange for some other person to agree to purchase the shares; or (c) Apply to the Court for an order under section 114 or section 115 of this Act; or (d) Arrange, before taking the action concerned, for the resolution to be rescinded in accordance with section 106 of this Act or decide in the appropriate manner not to take the action concerned, as the case may be; and (e) Give written notice to the shareholder of the board's decision under this subsection.