World News: 01:08 GMT Wednesday 11th September 2019. [Sundance Energy Australia Limited via Globe Newswire via SPi World News]
DENVER, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Sundance Energy Australia Limited (ASX: SEA) (NASDAQ: SNDE) (“Sundance” or the “Company”) is pleased to announce its decision to re-domicile from Australia to the United States via a proposed Scheme of Arrangement under Australian law (the “Scheme”), which is subject to shareholder, judicial and regulatory approvals.
If the Scheme of Arrangement is approved, the Company will transfer its primary listing to Nasdaq, and will cease to trade on the Australian Securities Exchange (“ASX”). As part of the 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 the Sundance group of companies following the implementation of the Scheme. Pursuant to the Scheme, Sundance shareholders will be entitled to receive one share in Holdco for every 100 Sundance shares held by Sundance shareholders on the Scheme record date. The Company intends to cancel its sponsored American Depositary Receipt program following the implementation of the Scheme.
Additional details regarding the Scheme are provided in the Company’s announcement lodged with the ASX and its Form 6-K which will be filed with the U.S. Securities Exchange Commission on or about September 11, 2019.
Globe Newswire: 01:08 GMT Wednesday 11th September 2019
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