Gates Industrial Corporation plc (NYSE: GTES) received approval from the High Court of Justice of England and Wales on July 16, 2026, for a statutory scheme of arrangement that will redomicile the company's parent holding company to Bermuda.

The scheme, which Gates Industrial shareholders approved on June 25, 2026, establishes Gates Industrial Corporation Ltd., a Bermuda exempted company, as the new parent holding company of the Gates Group.

The redomiciliation is expected to take effect on July 20, 2026. At that time, each ordinary share of $0.01 nominal value in the existing company will be cancelled, and shareholders on record as of 5:00 p.m. Eastern Time on July 17, 2026, will receive an equivalent number of common shares, at $0.01 par value, in the new Bermuda-based entity.