Guam § 281307 - Perfection of Rights; Right to Withdraw.

§ 281307. Perfection of Rights; Right to Withdraw.

(a) A shareholder who receives notice pursuant to § 281306 and who

wishes to exercise appraisal rights must certify on the form sent by the

corporation whether the beneficial owner of such shares acquired beneficial

ownership of the shares before the date required to be set forth in the notice

pursuant to § 281306 (b)(1). If a shareholder fails to make this certification,

the corporation may elect to treat the shareholder’s shares as after-acquired

shares under § 281309. In addition, a shareholder who wishes to exercise

appraisal rights must execute and return the form and, in the case of

certificated shares, deposit the shareholder’s certificates in accordance with

the terms of the notice by the date referred to in the notice pursuant to §

281306 (b)(2). Once a shareholder deposits that shareholder’s certificates

or, in the case of uncertificated shares, returns the executed forms, that

shareholder loses all rights as a shareholder, unless the shareholder

withdraws pursuant to subsection (b).

(b) A shareholder who has complied with subsection (a) may

nevertheless decline to exercise appraisal rights and withdraw from the

appraisal process by so notifying the corporation in writing by the date set

forth in the appraisal notice pursuant to § 281306 (b)(2)(E). A shareholder

who fails to so withdraw from the appraisal process may not thereafter

withdraw without the corporation’s written consent.

(c) A shareholder who does not execute and return the form and, in the

case of certificated shares, deposit that shareholder’s share certificates where

required, each by the date set forth in the notice described in § 281306

(b)(2), shall not be entitled to payment under this Article.