Sylvania To Redomicile To Bermuda From Australia
The Directors of Sylvania Resources Limited announced the Company’s intention to redomicile the holding company of the group from Australia to Bermuda.
The directors said they “believe that some of the advantages of the proposed Redomicile are a reduction in operational and administrative costs associated with an Australian incorporated entity and the potential to create a more efficient and effective tax structure.”
In addition, the directors believe the redomicile will make it “more attractive for future corporate deals whilst also making it easier to access international investor markets, particularly North America. The Board also considers that the Redomicile will result in the cost, tax and corporate efficiency of the Company being enhanced while retaining its existing listings on ASX and AIM.”
The full 2-page statement is below:
