Coventry Resources Inc.: Redomicile from Canada to Australia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 27, 2016) - Coventry Resources Inc. ("the Company") (ASX:CYY) advises that the Company has been registered as an Australian company effective from May 25, 2016 ("Australian Continuance"). Pursuant to the Australian Continuance, the Company's name has also changed to Coventry Resources Limited.
The proposed continuance from Canada to Australia was previously approved by shareholders at the Company's Annual General and Special Meeting held on April 15, 2016. The Board considers that the Australian Continuance should generate significant cost savings and improve the administration and efficiency of the Company by having the majority of executive and personnel located in a single office in Australia. Further reasoning is that the majority of shareholders of the Company are Australian based and the Company trades only on the Australian Securities Exchange ("ASX").
ASX Timetable
As part of the Australian Continuance, Coventry's common shares will become fully paid ordinary shares ("Shares") on a 1:1 basis. All shareholders will then hold Shares directly in the Company rather than through the CHESS Depositary Interests ("CDIs") nominee and those Shares will be tradeable on ASX. Accordingly, all existing CDIs will be cancelled and new holding statements will be issued in support of the uncertificated shareholdings (in replacement for the existing CDI statements).
The relevant ASX timetable is set out below:
| Event | Business Day | Date |
| Announce re-domicile on ASX | 0 | May 27, 2016 |
| Last day for trading in Coventry Resources Inc. ASX to change name from Coventry Resources Inc. to Coventry Resources Limited | 1 | May 30, 2016 |
| Trading in Coventry Resources Limited on a deferred settlement basis begins | 2 | May 31, 2016 |
| Last day for Coventry to register transfers as Coventry Resources Inc. | 3 | June 1, 2016 |
| First day for sending notices and holding statements and for registering securities as Coventry Resources Limited | 4 | June 2, 2016 |
| Last day for securities to be registered and for notices to be sent Deferred settlement trading ends | 8 | June 8, 2016 |
Contact
Coventry Resources Inc.
Ian Cunningham
Company Secretary
+61 8 9226 1356
icunningham@coventryres.com