OM Holdings Ltd, a Bermuda-registered metals producer and trader, will transfer its legal domicile to Singapore on November 18.

The company, which is managed from Singapore and listed in Australia and Malaysia, said in a stock exchange announcement that it had secured the necessary regulatory approvals.

Shareholders approved the move at a special general meeting on October 15.

OM Holdings trades manganese ore and produces alloys used in steelmaking at its smelting complex in Sarawak, Malaysia. Its principal subsidiaries and operations are concentrated in Singapore and Malaysia.

In materials sent to shareholders before the vote, the board said most directors and senior managers were based in Singapore, where key business decisions are made and day-to-day operations are directed. The group’s financial records are also prepared, maintained and audited there. The board said it expected the move to make the business simpler to administer.

Directors also pointed to greater flexibility in issuing shares under Singapore law, which has no par-value requirement. They said Singapore law offered stronger shareholder protections, including a statutory mechanism that allows shareholders to bring legal action on the company’s behalf in certain circumstances.

The company will be renamed OM Materials Holdings Ltd when the transfer takes effect. It will be governed by Singapore’s Companies Act 1967 and adopt a new corporate constitution approved by shareholders.