New Zealand based jewellery retailer Michael Hill is set to move its primary listing on the ASX.
In line with the company's long term interests, it has revolved to seek a listing through a Scheme of Arrangement.
This will see an Australian incorporated group parent company acquire all Michael Hill shares by an exchange of shares on a one for one basis.
Michael Hill International chair Emma Hill said the move will aim to benefit all company shareholders.
“The new company will have its primary listing on the ASX and will also maintain a listing on the NZX.
“Over time this will provide the company with direct access to a wider group of investors than we currently enjoy and we believe this will be to the benefit of all of our shareholders.
“On a day to day basis we will have all of our governance, executive and business operations operating in one jurisdiction and this will considerably simplify our structure.”
The company will conduct a meeting with shareholders in June 2016 as part of its listing proposal.
If approved by shareholders, Michael Hill will hit the ASX on July 1.