Astron plans shift back home to redomicile in Australia
The redomicile move will trigger the formation of a new listed Australian entity, Aus NewCo, to take the reins as Astron's new head company, replacing its current Hong Kong-based parent.
As part of the move, Australian shareholders will be asked to swap their CHESS depositary interests (CDIs) for shares in the new Australian entity on a two-for-one basis, while the Hong Kong investors' holdings will be relisted locally and remain unchanged.
Astron's shares have for years traded on the ASX as CDIs, limiting shareholders' voting rights and complicating their ownership. The new structure will give shareholders direct voting power and ordinary shares, bringing the company in line with its typical Australian-listed peers.
A first hearing with Hong Kong's Court of First Instance has been locked in for next week, with a crucial shareholder vote set for July 30. If approved, Astron's CDIs will cease trading on August 20, and shares in Aus NewCo will begin trading a day later.
The company expects the Australian Taxation Office to issue a class ruling confirming the redomicile qualifies for capital gains rollover relief to ensure the swap won't trigger a tax bill for investors.
Astron says it has always seen itself as an Australian miner and the restructure will cement that identity. The move paves the way for smoother shareholder engagement, stronger governance and closer alignment with its local investor base as it powers ahead with its Donald rare earths and mineral sands project in Victoria.
Notably, the change is expected to simplify Astron's compliance burdens. Currently, even basic transactions such as buying land in Australia require Foreign Investment Review Board approval – a hurdle the company says will be swept away when it is becomes a legal Australian entity.
The move is also tipped to make the company more attractive to retail and institutional investors and help attract and retain local talent.
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