Jan 11, 2018

Blogger's Best Guesses on Timeline


Milestones (not official)
Estimates^  are just this Blogger's best guesses 
Deadlines# are worked out from the SPA. 
Latest is SPA timeframes including extensions (if any)
Actual refers to Date of execution

Note:
  • I have not factored in the LTA Application & Approval because it's not in the SPA and besides, it does not make a difference to the long-stop date of 7 months + 1 month from SPA Date
  • Deadlines do not mean what you think. The deadlines are not there to protect us, they are there to protect the Buyer.
  • Long-Stop Date: 'If the Developer fails to rescind after the deadline passes - the SPA continues to be in force.'  I read this to mean the SPA has no end date and the Vender (us) has no exit clause.

1EOGM 1 and election of 10 CSC members26/09/15
2EOGM 2 and Selection & Appointment of MA & Lawyer19/03/16
3EOGM 3 To consider the Terms & Conditions of CSA, and Reserve Price set at $739M25/06/16
4First Signature to the CSA25/06/16
5Statutory Notice42.14%22/07/16
6Statutory Notice44.46%22/08/16
7Statutory Notice45.71%22/09/16
8Statutory Notice45.91%24/10/16
9Marketing Agent gives notice of intent to resign21/11/16
10Statutory Notice46.25%24/11/16
11Resignation of marketing Agent30/11/16
12Return of Marketing Agent24/12/16
13Statutory Notice46.43%06/01/17
14Revision of RP : $840M06/01/17
15Statutory Notice51.79%03/02/17
16Statutory Notice55.89%02/03/17
17Statutory Notice55.89%29/03/17
18Statutory Notice56.07%25/04/17
19Revision of Reserve Price to $952M28/04/17
20Statutory Notice73.21%23/05/17
2180% crossed80.00%01/06/17
22Statutory Notice81.79%15/06/17
23Last legal day to sign16/06/17
24End of Period 124/06/17
25Statutory Notice81.79%30/06/17
26SP Meeting 1: update on percentage and tender information01/07/17
27Tender Open05/07/17
28Statutory Notice82.50%14/07/17
29Statutory Notice82.50%08/08/17
30Tender Closed with 1 Bid15/08/17
Bloggers Reading of SPA Only                 NOT OFFICIALEstimate^/ Deadline#Actual
1Sold for $970M "SPA DATE"22/08/17
2Payment of 1st tranche of Deposit31/08/17#
3Lessor Approval(CSC)26/09/17#15/09/17
4Letters of Authority
5RPA approval : Clearance Certificate (Buyer)20/09/17#15/09/17
6Stamp Duty Certificate (Buyer)20/09/17#
7SP Meeting 2 to provide information & update on number of bids & S&P conditions (CSC)25/08/17
8Last date of submission for SSD owners /deferment email from IRAS to affected SPs05/09/17#
9Advertisement in local newspapers in 4 official languages (CSC)18/09/17
10Notice of Sale to all SPs by registered post (CSC)02/10/17#25/09/17
11Application for Sale to STB within 14 days of Advertisement above (CSC)07/10/17#27/09/17
12Objections, if any, within 21 days of Application for Sale Notice26/10/17#25/10/17
13STB Notice on Proposed Constitution of STB Panel22/10/17
14Date of 1st mediation.28/11/17
15One Objector withdraws (left 3 in total)03/11/17
16Date of 2nd mediation / Notice of Stop Order served on Objectors21/12/17
17Objections withdrawn28/12/18#28/12/18
18Sales Order Issued by STB22/08/18#02/01/18
19LTA Traffic Impact Study (Buyer)
20OPP Application                                  (Business Times 5 Feb 2018)Dec 2017
21OPP Approval19/01/18# (busted)Open
22SP Meeting 3 to answer owners questions/update on sale progress
24/02/18
23Baseline Confirmation Application
24Baseline Confirmation (deadline)27/04/18#
25SLA Top-Up Consent Application
26LUP Application after SLA Top Up Consent Application
27LUP Approval (deadline)27/04/18#
28Payment of 2nd Tranche of Deposit after Gov Approvals

                                                                                                         Deadline
29Last Date for Government Approvals27/04/18#
30Date of Legal Completion (3 months from Approvals)27/07/18#
31Sales Proceeds by bank draft (minus the retention sum)27/07/18#    
32Last Day to Move out (6 months from Completion Date)27/01/19#