Ann: Application for quotation of securities - BTH, page-20

If the company agrees to being bought out, your shares will either be directly acquired by the purchaser for cash, shares in the purchaser or a combination of both, depending on the terms of the offer from the purchaser.

The agreed purchase price will typically be at a premium to the listed price at the time the offer is made. Most times the purchaser will offer cash, in which case once the sale is concluded you will receive payment into your nominated account. You don't need to do anything (other than you will have previously had the opportunity to vote on whether you want the deal to go ahead). You could then if you wanted to buy shares in the purchaser if it is a listed company.

Sometimes the offer will be that you will receive a certain number of shares in the purchaser for each share you own. e.g. APT is currently being purchased by Square and APT shareholders will receive 0.375 Square shares for each APT share they own. (Square is a USA listed company so there are a few other factors at play, but the basic principal holds). Again you won't need to do anything other than possibly complete some forms as a new shareholder in the purchaser.

In my experience the least common approach is a combination of cash and shares in the purchaser, however if this was to occur the outcome for you would be covered by the two paragraphs above.