EXHIBIT 5.1
Herbalife Ltd.
PO Box 309GT
Ugland House
South Church Street
George Town
Grand Cayman
Cayman Islands
14 November 2005
Dear Sirs
Herbalife Ltd. (the Company)
We have acted as Cayman Islands legal advisers to Herbalife Ltd. (the Company) a company
incorporated in the Cayman Islands in connection with the Companys registration statement on Form
S-3, including all amendments or supplements thereto (Form S-3), filed with the Securities and
Exchange Commission under the Securities Act of 1933, as amended, (the Registration Statement)
relating to the offering and sale of Common Shares par value US$0.002 per share of the Company, by
some of the Companys shareholders (the Selling Shareholders). We are furnishing this opinion as
Exhibit 5.1 to the Registration Statement.
1 DOCUMENTS REVIEWED
We have reviewed originals, copies, drafts or conformed copies of the following documents:
1.1 |
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the Certificate of Incorporation and Certificate of Incorporation upon Change of Name and the
Amended and Restated Memorandum and Articles of Association of the Company as adopted on 1st
December, 2004; |
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1.2 |
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the written resolutions of the directors of the Company dated 9th April, 21st June and 28th
June, 2002, the minutes of the meetings of the board of directors held on 28th September, 2004
and 13th December, 2004 and the corporate records of the Company maintained at its registered
office in the Cayman Islands; |
|
1.3 |
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the Form S-3; and |
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1.4 |
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a certificate from an officer of the Company dated, a copy of which is annexed hereto (the
Officers Certificate). |
2 ASSUMPTIONS
Save as aforesaid we have not been instructed to undertake and have not undertaken any further
enquiry or due diligence in relation to the transaction the subject of this opinion.
The following opinion is given only as to, and based on, circumstances and matters of fact existing
and known to us on the date of this opinion. This opinion only relates to the laws of the Cayman
Islands which are in force on the date of this opinion. In giving this opinion we have relied
(without further verification) upon the completeness and accuracy of the Officers Certificate.
3 OPINION
Based upon the foregoing and subject to the qualifications set out below and having regard to such
legal considerations as we deem relevant, we are of the opinion that the Common Shares to be
offered and sold by the Selling Shareholders have been legally and validly issued and are fully
paid and non-assessable
4 QUALIFICATIONS
This opinion is subject to the following qualification and limitation that under the Companies Law
(2004 Revision) of the Cayman Islands, the register of members of a Cayman Islands company is by
statute regarded as prima facie evidence of any matters which the Companies Law (2004 Revision)
directs or authorises to be inserted therein. A third party interest in the shares in question
would not appear. An entry in the register of members may yield to a court order for rectification
(for example, in the event of fraud or manifest error).
Except as specifically stated herein, we make no comment with respect to any representations and
warranties which may be made by or with respect to the Company in any of the documents or
instruments cited in this opinion or otherwise with respect to the commercial terms of the
transactions the subject of this opinion.
We hereby consent to filing of this opinion as an exhibit to the Registration Statement and to the
reference to our firm under the heading Legal Matters in the Form S-3 included in the
Registration Statement. In the giving our consent, we do not thereby admit that we are in the
category of persons whose consent is required under Section 7 of the Act or the Rules and
Regulations of the Commission thereunder.
Yours faithfully
/s/ MAPLES and CALDER