Federal Court of Australia Approves Sundance’s Re-Domiciliation and Lodgement of Court Orders With ASIC
November 13 2019 - 10:12PM
Sundance Energy Australia Limited (ASX: SEA) (NASDAQ: SNDE) (the
“
Company” or “
Sundance”) is
pleased to announce that the Federal Court of Australia
("
Court") has today made orders approving the
scheme of arrangement in relation to the Company's proposed
re-domiciliation from Australia to the United States
("
Scheme"), under which Sundance Energy Inc.
("
Holdco") will become the ultimate parent company
of the Sundance group of companies following the implementation of
the Scheme.
A copy of the Court's orders was lodged with the
Australian Securities and Investments Commission today and, as a
result, the Scheme is now legally effective. Sundance has
applied to ASX to suspend quotation and trading of Sundance's
shares, with effect from the close of trading on ASX today.
Sundance has, however, been advised by Nasdaq that Sundance’s ADRs
will be eligible for trading on Nasdaq until the implementation
date (Tuesday, November 26, 2019).
Sundance shareholders who hold shares on the
record date for the Scheme (7:00pm (Sydney time) on Tuesday,
November 19, 2019) will be entitled to receive the Scheme
consideration (in accordance with the terms of the Scheme as set
out in Section 4.8 of the Scheme Booklet dated October 1, 2019
("Scheme Booklet")). The Scheme
consideration will be paid to Scheme Shareholders (as defined in
the Scheme Booklet) on the implementation date.
About Sundance Energy Australia
Limited
Sundance Energy Australia Limited (“Sundance” or
the “Company”) is an Australian-based, independent energy
exploration company, with headquarters in Denver, Colorado, USA.
The Company is focused on the acquisition and development of large,
repeatable oil and natural gas resource plays in North America.
Current activities are focused in the Eagle Ford. A
comprehensive overview of the Company can be found on Sundance’s
website at www.sundanceenergy.net
Summary Information
The following disclaimer applies to this
document and any information contained in it. The information in
this release is of general background and does not purport to be
complete. It should be read in conjunction with Sundance’s periodic
and continuous disclosure announcements lodged with ASX Limited
that are available at www.asx.com.au and Sundance’s filings with
the US Securities and Exchange Commission available at
www.sec.gov.
Forward-Looking Statements
This release may contain forward-looking
statements. These statements relate to the Company’s expectations,
beliefs, intentions or strategies regarding the future. These
statements can be identified by the use of words like “anticipate”,
“believe”, “intend”, “estimate”, “expect”, “may”, “plan”,
“project”, “will”, “should”, “seek” and similar words or
expressions containing same.
These forward-looking statements reflect the
Company’s views and assumptions with respect to future events as of
the date of this release and are subject to a variety of
unpredictable risks, uncertainties, and other unknowns. Actual and
future results and trends could differ materially from those set
forth in such statements due to various factors, many of which are
beyond our ability to control or predict. These include, but are
not limited to, risks or uncertainties associated with the
re-domiciliation (including the ability to recognize any benefits
therefrom), the discovery and development of oil and natural gas
reserves, cash flows and liquidity, business and financial
strategy, budget, projections and operating results, oil and
natural gas prices, amount, nature and timing of capital
expenditures, including future development costs, availability and
terms of capital and general economic and business conditions.
Given these uncertainties, no one should place undue reliance on
any forward-looking statements attributable to Sundance, or any of
its affiliates or persons acting on its behalf. Although
every effort has been made to ensure this release sets forth a fair
and accurate view, we do not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Important Notice
This press release does not constitute an offer
to sell, or a solicitation of an offer to buy, securities in the
United States or any other jurisdiction. Any securities described
in this press release have not been registered under the US
Securities Act of 1933, as amended, and may not be offered or sold
in the United States except in transactions exempt from, or not
subject to, registration under the US Securities Act and applicable
US state securities laws.
For more
information, please contact:
United States:John RobertsVP Finance &
Investor RelationsTel: +1 (720) 638-2400 |
|
Eric
McCradyCEO and Managing Director Tel: +1 (303) 543-5703 |
Australia:Mike HannellChairman Tel: +61 (0)418 834
957 or +61 8 8274 2128 |
|
|
|
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