Hartcourt Companies (fka HRCT)

[lugan]

I guess management figures they have control over enough shares to swing the deal.
I think most current holders will likely bite the bullet and continue to hold, rather than taking big losses. If that is the case and others see this as long term positive, than there is a chance for share value to rise and perhaps even reduce the proposed split ratio.
Much of his will depend on the next, due soon, earnings report.