Yeah I'm guessing they brought in a new CEO to try and appease their major shareholders.
Seems very strange that RSH still hasn't responded. Is it possible they're still in discussions with the top ADR shareholders?
I'm sure RSH would be flexible on the amount of shares exchanged. They're issuing new shares so it's not as if they're out of pocket.
Ann: ADR: Adherium Directors' Statement re Takeover, page-68
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