Bion Environmental Technologies (BNET) has provided an update.
The Board of Directors of a company has made amendments to certain agreements to prevent shareholder dilution amid changes in management, extending key dates for conversions, exercises, and related financial terms until January 15, 2025, without altering any surrender of securities by shareholders. The Bassani Family, related to the late CEO, has agreed to surrender 20% of its holdings, while President Mark A. Smith has completed his surrender obligations. Additionally, new Board members were appointed on June 27, 2024, and President Smith announced his retirement effective July 31, 2024, with discussions on his replacement underway. The company also publicized these updates in a press release on their website.
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