Champion Iron Ord Shs T.CIA

Question for the knowing

[Tothemoon2]

Champion recently talked about presenting to the board again the idea of redomiciliation.  What were the benefits of this?  I'm guessing a lower tax rate but what else?  I see they had 98% of shareholders approve of the idea.  Thanks in advance

[Thumb1972]

Hi Tothemoon2, Check out the company's press release on 6th January 2020 - you can find the press release under Champion's Newsroom Tab at its website. Grant Thornton Corporate Finance (the independent expert to determine whether or not to proceed with the redomiciliation) has done the same (Aust to Canada) for Boart Longyear (BL) circa end 2018 and you can find an overview of

[Tothemoon2]

Thanks

[Bepositive]

The reason of the idea of redomiciliation is a simple question of taxes rate when they will paid dividend. Actually if they paid dividend canadian shareholder will paid near 50% taxes. If they bring they head office in Canada it will reduce the taxe rate to 30% and will not affect australien shareholder taxe rate . Good for both shareholder and the sp