If the company is preparing to counter a possible hostile take-over, surely a Rights plan is fairly important. I think so. No-one else posting here has mentioned this. All focused on the reverse split thing in itself, not on this possible explanation as to why it might be needed.

To reiterate then. If we have a Rights plan, a hostile bid might result in doubling, or more, the current share count, by issuing 'Rights' to shareholders other than the hostile bidder. This would mean a share count of possibly more than a billion shares, if there were no reverse split. Doesn't that seem like a logical reason why such a reduction in share numbers might be a good thing, either before or after the hostile bid? Anyone care to comment?

Apart from the reverse split matter though, is no-one concerned/interested in discussing a Shareholder Rights Plan?