Sundance Energy Australia (ASX:SEA) has decided to re-domicile from Australia to the United States via a proposed Scheme of Arrangement which is subject to shareholder, judicial and regulatory approvals.
If the Scheme of Arrangement is approved, the Company will transfer its primary listing to the Nasdaq, and will cease to trade on the ASX.
The Company’s Board of Directors unanimously recommends that Sundance shareholders vote in favour of the Scheme of Arrangement.
Sundance has entered into a Scheme Implementation Agreement with a newly formed US corporation Holdco, which will become the ultimate parent company of the Sundance group of companies.
Shares in Sundance Energy Australia (ASX:SEA) are trading 23.1 per cent lower at 20 cents.