Unilife Medical Solutions Limited (Unilife Australia or the Company) (ASX: UNI) (PINKSHEETS: UNIFF) today announced that it entered into a Merger Implementation Agreement with Unilife Corporation (Unilife USA), a wholly owned subsidiary of Unilife Australia. The purpose of the Merger Implementation Agreement is to facilitate the proposed redomiciliation of the Unilife group to the United States of America (Proposed Transaction).
The Proposed Transaction will be implemented by the establishment of a new corporate structure under which Unilife USA, a company incorporated in Delaware, United States of America, will become the ultimate parent company of the Unilife group (Group). As a result, shareholders and optionholders of Unilife Australia (Security Holders) will exchange their existing interests in Unilife Australia for equivalent interests in Unilife USA.
The Group's business, operations, management and employees will not materially change as a result of the Proposed Transaction. Upon implementation of the Proposed Transaction, the Board of Unilife USA will be restructured to reflect the Group's domicile in the US.