Gates Industrial secondary offering of 5M shares at $15.14; company to repurchase 8M shares

Gates Industrial Corp plc

Selling shareholders offer 5M ordinary shares at $15.14; underwriter's option for 750K additional exercised.
Company will not receive proceeds from the offering but will bear certain expenses.
Company agreed to repurchase 8M shares at $15.14 from selling shareholders via pre-arranged contract.
Offering and repurchase expected to close March 30, 2022, subject to customary conditions.

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