Marginal note:Duty of offeree company
312 Within thirty days after an offeror sends an offeror’s notice under subsection 309(1), the offeree company shall
(a) issue to the offeror a share certificate in respect of the shares that were held by dissenting offerees;
(b) give to each dissenting offeree who elects to transfer shares as described in subparagraph 309(1)(c)(i) and who sends the share certificates as required under section 310, the money or other consideration to which that dissenting offeree is entitled, disregarding fractional shares, which may be paid for in money; and
(c) send to each dissenting offeree who has not sent share certificates as required under section 310 a notice stating that
(i) the shares have been cancelled,
(ii) the offeree company or some designated person holds in a fiduciary capacity for that offeree the money or other consideration to which that offeree is entitled as payment for or in exchange for the shares, and
(iii) the offeree company will, subject to sections 313 to 316, send that money or other consideration to that offeree forthwith after receiving the share certificates.
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