Excellent post again, my friend! One of the things I keep thinking about, over and over again, is how specific that 8K is. It's not generic, stating that they will elect new officers, etc.
They have everyone in place for the positions that Mack Frankel wants his team to have. For instance, Lee Frankel will be the new CEO. So far, I'm assuming this is his son, but I have no hard proof yet. But look how detailed this is. These people are going to run the new company. At some point they need to be properly elected. And the Harlands are no more! It says specifically that he will have a Successor that shall be elected. Goodbye Sydney!
(b)
Officers and Directors . Upon the execution of the Agreement, Meier Frankel shall be elected to the board of directors of the registrant. At the Closing, all of the directors of the registrant, with the exception of Sydney A. Harland and Meier Frankel, and all of the officers of the registrant, shall resign. Immediately, thereafter, Messrs. Harland and Frankel, as the registrant’s remaining directors, shall elect Meier Frankel as Chairman of the Board, Lee Frankel, Norman L. Horowitz, Virginia Norfleet, Alexandra Federov, and Eric N. Marton to serve as directors of the registrant until such time as their successors have been elected and qualified. Sydney A. Harland shall continue to serve as a director of the registrant, until his successor is elected and qualified. At the same time, Messrs. Harland and Frankel shall elect Meier Frankel, Chairman of the Board, Lee Frankel, President and Chief Executive Officer, Robert N. Weingarten, Chief Financial Officer and Principal Accounting Officer, and Schidly Jean-Baptiste, Secretary, to serve as officers of the registrant until such time as their successors have been elected and qualified.
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