Corporate ActionJul 16, 2026, 04:22 PM
Gates Industrial Redomiciliation Effective July 20; New Gates to Trade
AI Summary
Gates Industrial Corporation plc announced that the High Court of Justice of England and Wales approved its statutory scheme of arrangement on July 16, 2026, which was previously approved by shareholders on June 25, 2026. This scheme will result in a redomiciliation, making Gates Industrial Corporation Ltd. ("New Gates") the parent holding company of the Gates Group, effective July 20, 2026. On the effective date, existing Old Gates shares will be cancelled, and shareholders will receive an equivalent number of New Gates shares. Old Gates shares are expected to cease trading on the NYSE on July 17, 2026, with New Gates shares commencing trading under the same ticker "GTES" on July 20, 2026.
Key Highlights
- High Court of Justice of England and Wales approved the Scheme on July 16, 2026.
- Old Gates shareholders previously approved the Scheme on June 25, 2026.
- Redomiciliation to New Gates as parent holding company expected effective July 20, 2026.
- Old Gates shares will be cancelled; shareholders receive equivalent New Gates shares.
- Record time for the Scheme is 5:00 p.m. ET on July 17, 2026.
- Last day of trading for Old Gates shares on NYSE is July 17, 2026.
- New Gates shares to begin trading on NYSE under "GTES" on July 20, 2026.
Price Impact
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