MELBOURNE, Australia,
March 30, 2020 /PRNewswire/
-- Benitec Biopharma Limited (Benitec or the "Company") (ASX:
BLT; NASDAQ: BNTC; NASDAQ: BNTCW) today announce that the Supreme
Court of Queensland ("Court") has
approved the scheme of arrangement to redomicile the Benitec group
from Australia to the United States of America.
Benitec has lodged an official copy of the Court orders with the
Australian Securities and Investments Commission. Once the
orders are registered, the scheme will become effective.
Benitec shares have been suspended from trading on ASX from the
close of trading on Monday, March 30,
2020 (AEST).
The expected timetable for implementation of the Scheme is set
out below:
Event
|
Date
|
Share sale facility
election due
|
5.00pm (AEST) on
Monday, April 6, 2020
|
Record
Date
|
5.00pm (AEST) on
Monday, April 6, 2020
|
Implementation
date;
Issue of Holdco shares to Scheme shareholders;
Trading of Holdco shares on Nasdaq commences
|
Wednesday, April 15,
2020
|
Commencement of
dispatch to Scheme shareholders of
statements confirming the issue of Holdco shares
|
Wednesday, April 22,
2020
|
The above dates are indicative only and subject to change.
About Benitec Biopharma Limited
Benitec Biopharma
Limited (ASX: BLT; NASDAQ: BNTC; NASDAQ: BNTCW) is a clinical-stage
biotechnology company focused on the development of novel genetic
medicines. The proprietary platform, called DNA-directed RNA
interference, or ddRNAi, combines RNA interference, or RNAi, with
gene therapy to create medicines that facilitate sustained
silencing of disease-causing genes following a single
administration. Based in Melbourne,
Australia with laboratories in Hayward, California (USA), and collaborators
and licensees around the world, the Company is developing
ddRNAi-based therapeutics for chronic and life-threatening human
conditions including oculopharyngeal muscular dystrophy (OPMD), and
chronic hepatitis B.
Safe Harbor Statement:
This press release contains
"forward-looking statements" within the meaning of section 27A of
the US Securities Act of 1933 and section 21E of the US Securities
Exchange Act of 1934. Any forward-looking statements that may be in
this ASX/Nasdaq announcement are subject to risks and uncertainties
relating to the difficulties in Benitec's plans to develop and
commercialise its product candidates, the timing of the initiation
and completion of preclinical and clinical trials, the timing of
patient enrolment and dosing in clinical trials, the timing of
expected regulatory filings, the clinical utility and potential
attributes and benefits of ddRNAi and Benitec's product candidates,
potential future out-licenses and collaborations, the intellectual
property position and the ability to procure additional sources of
financing. Accordingly, you should not rely on those
forward-looking statements as a prediction of actual future
results.
Investor Relations
M Group Strategic Communications
Jay Morakis
Managing Director
Tel: +1 646 859 5951
Email: jmorakis@MGroupSC.com
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SOURCE Benitec Biopharma Limited