Core Laboratories To Redomesticate To US

(RTTNews) - Core Laboratories N.V. (CLB) Tuesday announced that its Board of Directors has approved the redomestication of the parent company from the Netherlands to the United States.

The company said it believes that the redomestication will improve shareholder value over the long-term through simplifying the corporate structure, improving operational efficiencies and reducing administrative costs.

The redomestication will change the company's jurisdiction of organization from the Netherlands to the State of Delaware.

The redomestication requires a shareholder vote for approval, which will be conducted through an extraordinary general meeting of Core Lab shareholders, which is anticipated to occur early in the second quarter of 2023.