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Webstar Technology Group Inc. (WBSR) Adds Change Of Control "Poison Pill" Defenses As It Amends Its Main Asset, Its Technology Marketing And License Agreement With Soft Tech Development Corp.
Webstar Technology Group Inc. (WBSR) Adds Change Of Control "Poison Pill" Defenses As It Amends Its Main Asset, Its Technology Marketing And License Agreement With Soft Tech Development Corp..
About this update from Webstar Technology Group Inc.
[{"type":"text","content":"Revised Agreement Also Strengthens Company's Exclusivity And Right Of First Refusal To Acquire Future Exclusive Marketing Licenses For New Market-Ready Technologies (Retail & Commercial) Of Soft Tech Development Corp.;Change Of Control Poison Pill Defenses Strengthen Company & Shareholders From Hostile Or Undervalued Takeover Attempts.JACKSONVILLE, FL / ACCESSWIRE / July 21, 2022 / Webstar Technology Group Inc. (OTCQB:WBSR) a software marketing and technology company that identifies, incubates and acquires exclusive rights to promising proprietary technology products and services and provides its shareholders access to participate in cutting edge technology opportunities focused on the internet and global data delivery capabilities, announced it has taken additional steps in response to its recently released New Plan of Operations, which it has recently announced by amending its current Amended And Restated Technology Marketing And License Agreement by adding a 2nd Amendment thereto.[1]In amending the Company's main asset, its 2nd Amended And Restated Technology Marketing And License Agreement with Soft Tech Development Corp., the Companyadded Change of Control "Poison Pill" defenses in the revised license. The safeguards are designed to strengthen the company & protect shareholders from hostile takeover attempts of third parties seeking to acquire the control of the Company in order to gain access to the exclusive licensed technology via driving down the trading value of common shares in the market in effort to acquire the required majority of shares.The Amendment also strengthened the Company's exclusivity and Right Of First Refusal to acquire future exclusive marketing licenses for new market-ready technologies (retail & commercial) of Soft Tech Development Corp. thereby increasing the value of its main asset and potentially increases the Company's stable of additional technologies available to license to third parties, which is part of the New Plan.One of the Poison Pill provisions now embedded in the 2nd Amended Agreement would, in effect, allow the Licensor, Soft Tech Development Corp., the option to cancel the License should: "Any person or entity, or series of persons or entities, ultimately becoming the beneficial owner, directly or indirectly, of the common stock securities of the LICENSE...