aop health international management said monday that it has received a low number of valid acceptances in respect of its mandatory 461 million pound 580 million offer for shield therapeutics aop a major shareholder in the pharmaceutical company said that as of friday it had received valid acceptances of 80000 shield shares or 001 of shields issued share capital aop launched its tender offer last month after requesting the conversion of a 95 million loan into shield shares upon completion of the conversion aop would own 419 of shields issued share capital and therefore launched its mandatory offer as required under london stock exchange rules under the offer shield shareholders are being offered 620 pence in cash for each share held representing a discount of 13 compared with shields share price of 715 pence on may 3 the day before the offer was launched while the board of shield approved the loan conversion they said at the time that the mandatory offer wasnt fair nor reasonable and recommended shareholders take no action they added that the company had the potential to drive significant value for shareholders in the future