Gates Industrial Corporation plc (NYSE: GTES) announced that its shareholders voted in favor of proposals to reincorporate the company from England and Wales to Bermuda, with approximately 99.6% of votes cast supporting the move.

The votes were taken at a series of shareholder meetings held on June 25, 2026. The company said it will now proceed with legal and regulatory steps to complete the redomiciliation, including seeking approval from a UK court. The effective date is expected to be July 20, 2026, though the company noted that date remains subject to change depending on whether all conditions are satisfied or waived.

"The change enhances capital and strategic flexibility while sustaining strong corporate governance and reducing administrative complexity and cost," said Ivo Jurek, Chief Executive Officer of Gates Industrial Corporation.

The company said it plans to file a Current Report on Form 8-K with the Securities and Exchange Commission that will include a more detailed timeline for the redomiciliation process.