Flex shareholders approve capital reduction for Nextracker spin-off; expects completion by Q4 FY2024

FLEX LTD.

Shareholders voted 394,168,412 For, 218,966 Against, 399,153 Abstain to approve capital reduction under Singapore Companies Act.
Capital reduction enables distribution in specie of Yuma, Inc. shares (holding Nextracker interests) to Flex shareholders on pro rata basis.
Flex will submit capital reduction to High Court of Singapore for approval promptly; expects completion in Q4 ending March 31, 2024.
Distribution and merger of Yuma into Nextracker subsidiary are expected on the same day as capital reduction.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

FLEX LTD. shareholders approved To approve the proposed court-approved capital reduction to be carried out by Flex pursuant to Section 78G of the Singapore Companies Act, in order to effect the distribution in specie of all of the shares of common stock, par value $0.01 per share, of Yuma, Inc. to Flex shareholders on a pro rata b at the 2023-11-20 meeting.

Outcome: passed
Meeting: 2023-11-20

Exact text from the filing

The Company’s Inspector of Elections certified the following vote tabulations on the above special resolution from the Extraordinary General Meeting: For Against Abstain To approve the proposed court-approved capital reduction to be carried out by Flex pursuant to Section 78G of the Singapore Companies Act, in order to effect the distribution in specie of all of the shares of common stock, par value $0.01 per share, of Yuma, Inc. to Flex shareholders on a pro rata basis based on the number of Flex Ordinary Shares held by each Flex shareholder. 394,168,412 218,966 399,153

View on SEC.gov

160 shareholder votes filed in the last 30 days. Browse all shareholder votes →

FLEX LTD. filing history →

Source: SEC EDGAR

accession 0000866374-23-000070

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.