RS Legacy Corp. (fka RSHCQ)

[ChnDragun]

Standard General to swap RadioShack shares for board seats

http://m.seekingalpha.com/news/2150295

Hedge fund Standard General, RadioShack’s (NYSE:RSH) largest shareholder, has agreed to trade some of its potential stake in the struggling electronics retailer in return for four board seats.
Under the terms of the amended refinancing agreement, Standard General would give as much as 10% of its preferred stockholdings in exchange for the seats and at least two of the designees would be independent directors.
Following the new changes, RadioShack’s board would include CEO Joe Magnacca, the four designees, and two independent directors.