section 69.
(1) Where a share is redeemable on a specified
date —
a.the company shall redeem the share on that date;
b.the share is deemed to be cancelled on that date;
and
c.from that date, the former shareholder ranks as an
unsecured creditor of the company for the sum
payable on redemption.
only option shareholder has is taking a court order against the notice before the notice date expired.
After the notice date expired he deemed to have sold his shares to the company..