Notice to remaining holders of bid class securities

(1) The bidder must:

(a)

prepare a notice in the prescribed form that:

(i)

states that the bidder and their associates have relevant interests in at least 90% (by number) of the securities in the bid class; and

(ii)

informs the holder of bid class securities about their right to be bought out under this Part; and

(iii)

sets out the terms on which the holder may be bought out; and

(b)

lodge the notice with ASIC; and

(c)

give the notice to each other person who:

(i)

is a holder of securities in the bid class on the day on which the notice is lodged with ASIC; and

(ii)

has not been given a compulsory acquisition notice under section 661B when the notice under subsection (2) is given; and

(d)

give the notice to each relevant securities exchange on the same day as it is lodged with ASIC if the target is listed.