Natalie Neto
Partner
Bermuda
Gates Industrial Corporation plc ('Gates') successfully completed its redomiciliation from the United Kingdom to Bermuda following the sanction of a statutory scheme of arrangement by the High Court of Justice of England and Wales. The scheme was approved by shareholders on 25 June 2026 and became effective on 20 July 2026.
Pursuant to the redomiciliation, each ordinary share in the former UK parent company was cancelled on 20 July 2026 and shareholders of record at 5:00 p.m. Eastern Time on 17 July 2026 received an equivalent number of common shares in the new Bermuda parent company, each with a par value of US$0.01. The former Gates shares traded on the New York Stock Exchange for the last time on 17 July 2026, and the new Gates shares commenced trading on the NYSE on 20 July 2026 under the same ticker symbol, GTES.
Our Bermuda Corporate team acted as Bermuda counsel to Gates on the transaction. The team was led by Corporate partners Natalie Neto and Rachel Nightingale, with assistance from senior associate Marah Smith and associate Amelia Oatley, all based in Bermuda. Sidley Austin LLP (New York) acted as U.S. counsel to Gates.
We are delighted to welcome Gates to Bermuda following the successful completion of its redomiciliation from the United Kingdom. We congratulate the company on this significant milestone and look forward to supporting Gates in the future as a Bermuda-domiciled public company.
