24th Jun 2016 06:42
LONDON (Alliance News) - Bacanora Minerals Ltd said it plans to re-domicile its corporate jurisdiction to the UK on Friday, the same day as the UK cast a landmark vote to leave the European Union, claiming the move to the UK will deliver significant cost and administrative savings.
Bacanora, which is also listed on the Toronto Stock Exchange, focuses on operations in Mexico and said the decision was based on "the success of the company's AIM listing and the positive reception from UK investors".
The majority of the company's senior management team is based in the UK.
"The board anticipates that the re-domicile will result in significant cost and administrative savings for the company and its subsidiaries," said Bacanora.
Bacanora will require approval from Canadian courts and said it will shortly send a circular to shareholders.
By Joshua Warner; [email protected]; @JoshAlliance
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