Benitec Biopharma: Surges as it moves closer towards U.S. re-domiciliation

Benitec Biopharma

07/02/2020 18:14

** Shares of Benitec Biopharma Ltd  BNTC.O  surge ~63% to
$8.9 — their highest level in 4 months 
    ** Stock top pct. gainer across exchanges; set for its best
day in 3 years
    ** The supreme court of Queensland orders Benitec Biopharma
Ltd to convene a shareholders meeting to seek approval for
Benitec Biopharma Inc (Holdco), a newly formed U.S. corporation,
to become the parent company of the Benitec group. [https://bit.ly/2UxGwqv
]
    ** The move is aimed at helping the Benetic group to
re-domicile from Australia to the United States 
    ** If proposal is approved, shareholders of Benitec
Biopharma Ltd will receive 1 common share in Holdco for every
300 shares they hold
    ** Board of Benitec unanimously recommends shareholders to
vote in favor of the proposal
    ** Up to Thursday's close, stock had fallen 63% in the last
12 months

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3463;))