Reduction of share capital of SES, SIMEX and SCCS
4.—(1)  The capital of SES shall, on the transfer date, be reduced by cancelling all issued SES shares as at the transfer date which shall be 34 SES shares.
(2)  The capital of SIMEX shall, on the transfer date, be reduced by cancelling all issued SIMEX shares as at the transfer date which shall be 40 SIMEX shares.
(3)  The capital of SCCS shall, on the transfer date, be reduced by cancelling all issued SCCS shares as at the transfer date which shall be 34 SCCS shares.
(4)  Every certificate representing a holding of SES shares, SIMEX shares or SCCS shares held immediately before the transfer date shall, on the transfer date —
(a)be deemed to be cancelled; and
(b)cease to have effect as a document of title of the shares comprised in that certificate.
(5)  The reduction of the share capital of SES, SIMEX and SCCS under subsections (1), (2) and (3), respectively, shall not be subject to the requirements of section 73 of the Companies Act (Cap. 50) (which provides for special resolution for reduction of share capital).