Ann: Shareholder Activity , page-4

the letter had a few more encouraging words such as

"the Board could not, acting in the interest of the
Company and all shareholders, commit the Company to vote on a privatisation offer at a price that does not in the Board’s reasonable opinion, represent the fair value of the shares
at the relevant time"

and

"A shareholder who does not vote in favour of the merger or amalgamation and who is not satisfied that the shareholder has been offered fair value for its shares may, within one month of the notice calling the shareholders meeting, apply to the Bermuda court to appraise the fair value of their shares."