This is what I think may be happening. Notice they have an option not to do any R/S if they so choose in the next 12 months. Everything depends on what company they merge into the shell. They are giving themselves the option of a R/S depending on the share price when they merge the company. They want the share price to be higher, especially if they are planning to apply for a move up to another board like NASDAQ or AMEX a year from now. If the company merged is a blockbuster, the share price will rise significantly on its own, and no R/S will be needed.
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