Sundance recommends to Re-Domicile from Australia to the United States

1 min read | September 11, 2019 12:38 PM AEST | By Team Kalkine Media

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Sundance Energy Australia Limited (ASX: SEA) has decided to re-domicile itâs company from Australia to the United States via a proposed Scheme of Arrangement. If the Scheme is approved, the company will transfer its primary listing to NASDAQ and will cease to trade on the ASX. As part of re-domiciliation, Sundance has entered into a Scheme Implementation Agreement (SIA) with a newly formed US corporation, HOLDCO, which will become the ultimate parent company of Sundance.

Benefits to the company:

It will attract and increase awareness of Holdco with a broader US investor pool, which will create more value for the company.
It will increase access to lower cost debt or equity capital in the US market, thus enabling future growth which can be financed at a lower cost.
A simplified corporate structure for potential future merger, sale or acquisition transaction which may increase Holdcoâs attractiveness to potential merger partners.

At 12:24 PM AEST, the stock was trading at A$0192, down 26.923% from its previous close.

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