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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Drama aplenty as SMRT shareholders vote yes on Temasek buyout

Posted on 30 September 2016

After nearly four hours in an extraordinary general meeting and scheme meeting which were chock-full of incidents — a technical glitch hitting the voting system, shareholders jeering and a disgruntled investor berating the chief executive — an overwhelming majority of SMRT shareholders supported the privatisation offer by parent firm Temasek Holdings on Thursday (Sept 29).
A total of 84.8 per cent of SMRT’s minority shareholders, or 3,747 of them, voted in favour of the buyout offer from Temasek. Only 670 shareholders voted against the bid. The thumbs-up came after 98.8 per cent voted to approve the assets sale to the Land Transport Authority (LTA) as part of the transition to the new rail financing framework (NRFF)………………………………………Full Article: Source


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