Why Is Locate Technologies Moving Its Listing to NZX to Boost Bitcoin Strategy?

Strategic Shift to New Zealand

Locate Technologies Limited (ASX – LOC), a technology company specialising in AI-driven logistics solutions, has announced its intention to transfer its primary stock exchange listing from the Australian Securities Exchange (ASX) to the New Zealand Exchange (NZX). This will be achieved through a 'top hat' scheme of arrangement, whereby a newly incorporated New Zealand company (NZ Co) will acquire all shares in Locate Technologies, with shareholders receiving one NZ Co share for each Locate Technologies share they hold.

The move is designed to facilitate the company's ambitious Bitcoin Treasury Strategy, which involves allocating residual cash reserves into Bitcoin as a long-term store of value. The Board believes that the NZX offers a more forward-thinking and less restrictive capital markets environment, enabling faster and more flexible execution of this strategy.

Implications for Shareholders and Operations

Upon completion of the scheme, Locate Technologies will delist from the ASX, and NZ Co shares will be listed and traded exclusively on the NZX. Shareholders will retain equivalent economic interests, but their shares will be subject to New Zealand corporate governance and regulatory frameworks, including the Companies Act 1993 (NZ) and the NZX Listing Rules.

Importantly, the company’s operations, management, and strategic direction will remain unchanged despite the listing transition. The Board emphasises that this is a structural change aimed at unlocking shareholder value by enabling a more innovative capital allocation framework, particularly around the Bitcoin Treasury Strategy.

Regulatory and Approval Process

The scheme is subject to several key conditions, including approval by Locate Technologies shareholders, sanction by an Australian court, and receipt of necessary regulatory consents. The ASX has provided in-principle support for the delisting, contingent on these approvals. An independent expert, Hall Chadwick, has been appointed to assess the scheme’s merits and will provide a report to shareholders.

The company expects to dispatch a detailed Scheme Booklet in October 2025, with a shareholder meeting scheduled for November 2025 to vote on the proposal. If approved, the scheme is anticipated to be implemented by late November 2025, with NZ Co listing on the NZX expected in early October 2025, accompanied by a capital raise to support the transition and the Bitcoin Treasury Strategy.

Leadership Perspective and Market Positioning

CEO Steve Orenstein highlighted that the decision to relocate was driven by the need to overcome regulatory hurdles that were impeding the company’s strategic execution. He praised the NZX as a progressive exchange aligned with Locate Technologies’ vision for rapid innovation and value creation. The Board unanimously recommends shareholders vote in favour of the scheme, underscoring confidence in the benefits of the listing transition.

This move positions Locate Technologies within a capital market environment that is increasingly receptive to cryptocurrency-related treasury strategies, potentially attracting new investors from New Zealand and beyond. It also signals a willingness to embrace regulatory frameworks that support innovation while maintaining shareholder protections.