SMRT: Once a Landlord; Now a (Mere) Lessee

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

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Event-Driven

<p>Early this morning, 6 September 2016, SMRT released the <a href="http://infopub.sgx.com/FileOpen/Scheme%20Document%20dated%206%20Sep%202016.ashx?App=Announcement&amp;FileID=420331" target="_blank">scheme document</a> and <a href="http://infopub.sgx.com/FileOpen/Notice%20of%20Scheme%20Meeting%20dated%206%20Sep%202016.ashx?App=Announcement&amp;FileID=420330" target="_blank">notice of the scheme meeting</a> pursuant to Temasek privatization of SMRT.</p><div class="content-highlight"><p><strong>The scheme meeting will take place at 3.30 pm (SG time) on 29 September 2016. </strong></p></div><p>For the scheme to pass, SMRT will need</p><ol>
<li>75<em>% of votes (Temasek cannot vote); and </em>
</li>
<li><em>Majority in number (Headcount rule)</em></li>
</ol><h2>Key Dates</h2><table class="table table-striped"><tbody>
<tr>
<td><strong>Date</strong></td>
<td><strong>Event</strong></td>
</tr>
<tr>
<td>29 September 2016</td>
<td>Scheme meeting</td>
</tr>
<tr>
<td>14 October 2016</td>
<td>Court hearing to sanction the scheme</td>
</tr>
<tr>
<td>by 1 November 2016</td>
<td>Expected payment date</td>
</tr>
</tbody></table><h2>IFA's Report</h2><p>Rothschild…</p>

Early this morning, 6 September 2016, SMRT released the scheme document and notice of the scheme meeting pursuant to Temasek privatization of SMRT.The scheme meeting will take place at 3.30 pm (SG time) on 29 September 2016. For the scheme to pass, SMRT will need
75% of votes (Temasek cannot vote); and 

Majority in number (Headcount rule)
Key Dates

Date
Event


29 September 2016
Scheme meeting


14 October 2016
Court hearing to sanction the scheme


by 1 November 2016
Expected payment date

IFA's ReportRothschild…

SMRT Corp Ltd

SMRT - Analysis of the Scheme Document