Gates Shareholders Approve Bermuda Plan
Gates Industrial Corporation announced that shareholders overwhelmingly approved proposals to redomicile the company’s parent from England and Wales to Bermuda.
A spokesperson said, “Gates Industrial Corporation plc today announced that its shareholders have overwhelmingly voted in favor of the Company’s proposals in connection with the Company’s intention to change its place of incorporation from England and Wales to Bermuda [the "Redomiciliation"].
“Gates Industrial Corporation’s shareholders voted in favor of all proposals related to the Redomiciliation at a series of shareholder meetings held earlier today. The percentage of votes in favor of each proposal voted on at the meetings was approximately 99.6% of votes cast.”
“We thank our shareholders for their strong support in approving the Redomiciliation of our parent company from England and Wales to Bermuda,” said Ivo Jurek, Chief Executive Officer of Gates Industrial Corporation. “The change enhances capital and strategic flexibility while sustaining strong corporate governance and reducing administrative complexity and cost.”
A spokesperson added, “The Company will now proceed with the relevant legal and regulatory procedures required to implement the Redomiciliation, including seeking the sanction [i.e. approval] of the UK court, and expects the effective date to be July 20, 2026. The Company will include a more detailed timeline in its Current Report on Form 8-K to be filed with the Securities and Exchange Commission ["SEC"] today. However, the effective date remains subject to change and will depend on, among other things, the date on which all the conditions are satisfied or, if capable of waiver, waived.”
