The founder of the jewellery business, Sir Michael Hill, stepped down last year to make way for his daughter Emma Hill to succeed him as chair. Photo / Jason Oxenham.
Michael Hill International confirmed it will go ahead with plans to list its shares on the ASX, given most of its operations are now based in its dominant market of Australia and its financial reports are in Australian dollars.
The Brisbane-based company will list through a 'scheme of arrangement' which
will see a new Australian parent company acquire all the shares through an exchange of shares on a one-for-one basis, it said in a statement.
The new company will have its primary listing on the ASX and will also maintain a listing on the NZX, it said.
"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," chair Emma Hill said.
"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."
