Monday, September 15, 2014 10:57:19 PM
Due to the complexity of merging an American company, regulated in the US jurisdiction with an Israeli company which is subject to its own regulatory procedures, the attorneys representing SDE Inc are making changes to the Agreement by which Blackbird will merge with a company bearing the name Wave Electricity Renewable Power Ocean. Shmuel Ovadia explains, “This Company shall own all of SDE's technology, IP and know-how, as well as all of SDE's holdings in its subsidiaries, and will be assigned all of SDE's activity and agreements.”
From Sept 11 PR
Due to the complexity of merging an American company, regulated in the US jurisdiction with an Israeli company which is subject to its own regulatory procedures, the attorneys representing SDE Inc are making changes to the Agreement by which Blackbird will merge with a company bearing the name Wave Electricity Renewable Power Ocean (WERPO). Shmuel Ovadia explains, "This Company shall own all of SDE's technology, IP and know-how, as well as all of SDE's holdings in its subsidiaries, and will be assigned all of SDE's activity and agreements."
They are reiterating to shareholders or potential shareholders who haven't followed every step and might not know what WERPO is, what exactly it is.
Anyone who didn't see the August 20th update would be confused by why it said WEPRO instead of SDE.
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