A share distribution like this would mean transferring ownership of  Poet's half of SuperP from Poet to Poet shareholders. This would leave Sanan as the one dominant shareholder against the widely distributed base of retail investors elsewhere. So Sanan would have a lock on all corporate decisions, not a positive position to be in for minority shareholders.  For Poet to retain some semblance of control and a voice at the table, the proposed shares can be no more than slips of paper, full of sound and fury but signifying nothing.