Representation of shareholders seeking appraisal of the fair value of their shares under section 106(6) of the Companies Act 1981; whether a shareholder who acquired shares after the notice of amalgamation has the locus standi to make the application; whether such an application is an abuse of process; whether the fair value to be assessed on an objective or subjective basis.
Case outcome
The Chief Justice found that shareholders acquiring shares after notice of the amalgamation have locus standi to seek a fair value appraisal of their shares under section 106 (6) of the Companies Act 1981.