Section 909(5)

The expert's report must— indicate the method or methods used to arrive at the share exchange ratio; give an opinion as to whether the method or methods used are reasonable in all the circumstances of the case, indicate the values arrived at using each such method and (if there is more than one method) give an opinion on the relative importance attributed to such methods in arriving at the value decided on; describe any special valuation difficulties that have arisen; state whether in the expert's opinion the share exchange ratio is reasonable; and in the case of a valuation made by a person other than himself (see section 935), state that it appeared to him reasonable to arrange for it to be so made or to accept a valuation so made.

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Source: legislation.gov.uk · retrieved 2026-09-04