If the scheme passes, then an extraordinary general meeting will likely be held before April 16 - the deadline Hyflux has with SM Investments to get the restructuring plan approved - for ordinary shareholders to vote on the issue of new shares to SMI. More than 50 per cent of them must vote "yes" for the issue of new shares to SMI and the waiver of a general offer. Hyflux will also hold its third round of town hall meetings with holders of its notes, perpetual securities and preferences shares, as well as ordinary shares on March 13.