West Virginia Restructuring Agreement

State:
Multi-State
Control #:
US-CC-12-1640B
Format:
Word; 
Rich Text
Instant download

Description

12-1640B 12-1640B . . . Restructuring Agreement under which (a) Delaware corporation (Company) will become holding company by transferring substantially all its assets and liabilities, except for capital stock of its subsidiaries, to a newly organized wholly-owned Delaware subsidiary, (b) pursuant to terms of a Demerger Agreement, certain assets and liabilities of a Norwegian corporation (Norway-One) shall be demerged into a new Norwegian corporation (Norway-Two) and each holder of outstanding shares of Norway-One shall receive one share of capital stock of Norway-Two for each Norway-One share held by such holder, and (c) Company shall commence an Exchange Offer to prospective shareholders of Norway-Two to exchange cash and warrants for Company Class A Common Stock for their Norway-Two shares
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FAQ

The university will continue to offer more than 300 majors, and the proposed changes will not affect the university's prestigious R1 status, ing to WVU Vice President for Research Fred King.

The most popular majors at West Virginia University include: Registered Nursing/Registered Nurse; Sports, Kinesiology, and Physical Education/Fitness, General; Multi-/Interdisciplinary Studies, General; Mechanical Engineering; Exercise Physiology and Kinesiology; Criminology; Journalism; Finance, General; Psychology, ...

This is just a snapshot into the weeks of contention at West Virginia University. Some of the schools, departments and programs that will be affected by the cuts include Education, Management, Creative Arts, Law, various sciences and mathematics, Communication Studies, Philosophy, among others.

West Virginia University's board of governors voted Friday to approve cuts to academic programs during a chaotic meeting disrupted by protesters chanting, waving signs and shouting. In a number of votes, the board agreed to eliminate 28 academic majors and 143 faculty positions.

The university is eliminating all its foreign language degrees, which include bachelor's degrees in French, Spanish, Chinese studies, German studies and Russian studies, along with master's degrees in linguistics and TESOL (Teaching English to Speakers of Other Languages).

With a budget shortfall projected to grow as high as $75 million in five years, West Virginia University is proposing cutting 32 programs ? 9% of the majors offered on its Morgantown campus ? including its entire department of world languages, literatures and linguistics, along with graduate and doctoral degrees in ...

Which WVU degree programs and faculty were cut? biometric systems engineering. art history. technical art history. music performance: jazz studies. environmental and community planning. recreation, parks and tourism resources. Russian, Chinese, Spanish, French, German studies.

That review resulted in an Academic Transformation plan, which, in its first iteration in August, recommended closing 32 academic programs and cutting 169 faculty positions as WVU administrators attempted to reduce the budget gap.

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West Virginia Restructuring Agreement