Core Laboratories ( NYSE: CLB ) said Tuesday it plans to reorganize its corporate structure , including redomestication to the U.S. from the Netherlands and changing its jurisdiction of organization from the Netherlands to the state of Delaware.
The company believes the moves will enhance shareholder value over the long-term through simplifying the corporate structure, improving operational efficiencies and reducing administrative costs.
Core Labs ( CLB ) said the redomestication requires a shareholder vote for approval, to be conducted through an extraordinary general shareholders meeting expected to occur early in Q2.
Saying the oilfield services sector has "still more ground to make up," Bank of America recently upgraded Core Labs and Helmerich & Payne .
For further details see:
Core Labs plans to redomesticate to U.S. from Netherlands