s 5 Capital creation and issue of shares of SES, SIMEX and SCCS
5.—(1) Immediately upon the reduction of the issued share capital of SES under section 4(1) taking effect, the capital of SES is increased to $34 by the creation of 34 SES shares and such shares are allotted and issued and credited as fully paid‑up to the transferee holding company on the transfer date. (2) Immediately upon the reduction of the issued share capital of SIMEX under section 4(2) taking effect, the capital of SIMEX is increased to $40 by the creation of 40 SIMEX shares and such shares are allotted and issued and credited as fully paid‑up to the transferee holding company on the transfer date. (3) Immediately upon the reduction of the issued share capital of SCCS under section 4(3) taking effect, the capital of SCCS is increased to $34 by the creation of 34 SCCS shares and such shares are allotted and issued and credited as fully paid‑up to the transferee holding company on the transfer date. (4) The transferee holding company must, within 30 days of the transfer date, give a notice to the Registrar of Companies of the particulars of the capital reduction under section 4 and the capital creation under this section. (5) Nothing in —(a) the memorandum of association or articles of association of SES, SIMEX or SCCS; or (b) the rules, regulations or by‑laws of SES, SIMEX or SCCS, prohibits the capital reduction under section 4 and the capital creation under this section.