Press Release

Macquarie Group distributes Sydney Airport Securities to shareholders

Sydney, 13 January 2014

Macquarie Group (ASX: MQG; ADR: MQBKY) advises that following shareholder approval at its general meeting on 12 December 2013, the distribution of Sydney Airport stapled securities (SYD) to eligible shareholders was completed today.

The distribution comprises a reduction of capital of $A2.5737 and a special dividend of $A1.1563 per ordinary share (on a pre-consolidation basis)1, representing 69% and 31% of the distribution respectively, which was calculated using the SYD closing share price of $A3.73 on 10 January 2014. Distribution statements will be dispatched to eligible shareholders by 17 January 2014.

The impact of this distribution on Macquarie is as follows:

  • A gain on distribution of approximately $A228 million will be recognised in the income statement
  • Investment securities available for sale will be reduced by approximately $A1.3 billion
  • APRA Basel III regulatory capital surplus will be reduced by approximately $A250 million after taking into account the release of capital currently held against the investment, profit on distribution and certain other capital initiatives, all of which have been completed. This reduction in capital surplus is consistent with the outstanding balance of the previously announced ordinary share buyback, which will now be cancelled.

Proceeds from the sale facility for small holdings and ineligible foreign holdings, as described in the Explanatory Memorandum for the 12 December 2013 general meeting, will be distributed to participants by 3 March 2014.

  1. Prior to the Consolidation (as defined in the Explanatory Memorandum for the General Meeting held on 12 December 2013) of 1 MGL share into 0.9438 of a MGL share.

 

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