dumb question about takeover

I gotta ask a dumb question, and its not about the politics and who is right and who is wrong.

This is the strangest 'takeover' I've ever seen, with the company doing the takeover not actually buying any shares. You'd think they buyer would be mopping them up at the bargain 30cents considering they are prepared to pay up to 45c.

What happens now with this takeover?

- Do shareholders have to vote on whether to accept the 45c bid, but not actually get the money? If so - when is the vote?
- Does that vote make the offer unconditional and force Hanlong to then pay up? Or - are there other 'conditions'?
- or
Do shareholders have an opportunity to be paid 45c now?

Normally a takeover is Yes/No, and and offer for cash made to shareholders in a letter with the cheque in the post a few weeks later.