Pursuant to the terms of the Consulting Agreement,
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Posted On: 11/24/2014 7:37:21 PM
Re: Both shallow #11825
Pursuant to the terms of the Consulting Agreement, Dr. David Lowe, a member of the Company's Board of Directors, will devote 60% of his time to performing the Services and will assume the role of President of Amarantus Europe, which will be formed as a wholly owned subsidiary of the Company .
DEFINITION OF 'WHOLLY OWNED SUBSIDIARY'
A company whose common stock is 100% owned by another company, called the parent company. A company can become a wholly owned subsidiary through acquisition by the parent company or spin off from the parent company. In contrast, a regular subsidiary is 51 to 99% owned by the parent company. One situation in which a parent company might find it helpful to establish a subsidiary company is if it wants to operate in a foreign market. This arrangement is common among high-tech companies who want to retain complete control and ownership of their technology.
http://www.investopedia.com/terms/w/whollyown...idiary.asp
DEFINITION OF 'WHOLLY OWNED SUBSIDIARY'
A company whose common stock is 100% owned by another company, called the parent company. A company can become a wholly owned subsidiary through acquisition by the parent company or spin off from the parent company. In contrast, a regular subsidiary is 51 to 99% owned by the parent company. One situation in which a parent company might find it helpful to establish a subsidiary company is if it wants to operate in a foreign market. This arrangement is common among high-tech companies who want to retain complete control and ownership of their technology.
http://www.investopedia.com/terms/w/whollyown...idiary.asp
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