s 4 Reduction of share capital of SES, SIMEX and SCCS
4.—(1) The capital of SES is, on the transfer date, reduced by cancelling all issued SES shares as at the transfer date which are 34 SES shares. (2) The capital of SIMEX is, on the transfer date, reduced by cancelling all issued SIMEX shares as at the transfer date which are 40 SIMEX shares. (3) The capital of SCCS is, on the transfer date, reduced by cancelling all issued SCCS shares as at the transfer date which are 34 SCCS shares. (4) Every certificate representing a holding of SES shares, SIMEX shares or SCCS shares held immediately before the transfer date —(a) is, on the transfer date, deemed to be cancelled; and (b) ceases, on the transfer date, 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, is not subject to the requirements of section 73 of the Companies Act (Cap. 50, 1994 Revised Edition) (which provides for special resolution for reduction of share capital), as the case may be.