Anteris Technologies (ASX:AVR) said that the Supreme Court of Queensland approved its proposed share and option schemes of arrangement, marking a key step in the company's re-domiciliation process, according to a Wednesday filing with the Australian bourse.
The approved schemes will see Anteris Technologies Global (ATGC), a newly-formed Delaware-based company, become the new parent company of Anteris Technologies (ATL), effectively relocating ATL and its units to the United States, the filing said.
Following the court's decision, Anteris expects to lodge an office copy of the orders with the Australian Securities and Investments Commission (ASIC) on Dec. 5, making the schemes legally effective.
The schemes remain contingent on a condition subsequent, should the condition not be met by Dec. 20, the schemes will lapse, the filing added.
ATL shares will be suspended from trading on the Australian Securities Exchange from the close of market on Dec. 5. The record date for the scheme is Dec. 9.
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