To Explore Redomicile and Listing in United States
Perth, June 8, 2017 AEST (ABN Newswire) - The Board of Directors of Liquefied Natural Gas Limited (
ASX:LNG) (LNGLY:OTCMKTS) (LNGL or the Company) has authorized the Company's management team to explore the possibility of redomiciling the Company to the United States of America along with a listing on either the New York Stock Exchange or NASDAQ. The Board has been evaluating U.S. listing, and now believes that such a transaction may be of benefit to the Company and its shareholders as the Company progresses toward the development of its projects in North America.
At this stage, the Board has not specified a timetable for a decision on the potential transaction. Further details will be announced once any decisions are made, and once the structure and timing of any proposed transaction have been determined, including whether the Company will remain listed on the ASX. Any proposal will be subject to approval of the Company's shareholders.
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (
ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
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