Gates Industrial Completes Redomiciliation to Bermuda, New Shares Begin Trading on NYSE

summarizeSummary

Gates Industrial Corp plc completed its redomiciliation to Bermuda on July 20, 2026. New Bermuda shares began trading on the NYSE under the same symbol 'GTES', replacing the old UK shares. The move is expected to generate $5 million in annual savings.

check_boxKey Events · Corporate Governance and Compliance · GTES

• Redomiciliation Effective

  The redomiciliation from England and Wales to Bermuda became effective on July 20, 2026. Old Gates shareholders received one New Gates common share for each Old Gates ordinary share, totaling 253,151,170 shares issued.

• NYSE Listing Transition

  Old Gates shares were delisted from the NYSE after the close on July 17, 2026. New Gates shares began trading on the NYSE under the symbol 'GTES' on July 20, 2026.

• Governance Continuity

  The board of directors and executive officers of New Gates are identical to those of Old Gates, with John S. Patouhas appointed as Principal Accounting Officer. New Gates adopted amended bye-laws and assumed existing equity incentive plans.

• Expected Cost Savings

  The redomiciliation is expected to generate approximately $5 million in annual savings, as previously disclosed in the proxy statement.

auto_awesomeAnalysis · GTES · Technology

Gates Industrial has finalized its move from England to Bermuda, a strategic shift expected to save $5 million annually. The redomiciliation became effective today, with new Bermuda-incorporated shares replacing the old UK shares on a one-for-one basis and trading under the same ticker 'GTES'. The board and management remain unchanged, ensuring continuity. While the move itself was well-telegraphed, the completion removes uncertainty and locks in the anticipated tax and governance benefits.