Agreement for the Officers and Directors of the public shell to be replaced with the Officers and directors designated by the private company merger partner.
JUST AS IMPORTANT, AND OVERLOOKED
. Note: It is often necessary for the public shell to do a reverse split and/or cancel shares owned by the affiliates of the public share prior to completing the merger.
ARE YOU KIDDING, COMPARE THAT STATEMENT FROM GOPUBLIC TO IHSNs PR on April 18:
As part of its restructuring plan and to bolster the capital structure, the Company has elected to cancel and retire certain common shares of its affiliates.