MAp Airports International Limited - exchange of shares for units

Overview

This information is about the exchange of shares in MAp Airports International Limited (MAIL) for units in MAp Airports Trust 2 (MAT2) and cash consideration on 19 December 2011 (the exchange).

MAp Group (MAp) is now known as Sydney Airport Group (SYD). MAT2 is now known as Sydney Airport Trust 2 (SAT2). The abbreviations MAp and MAT2 are used in this product to be consistent with Class Ruling CR 2011/100.

This information applies to you if all the following apply:

• you are an individual (not a company or trust)
• you are an Australian resident (and you are not a temporary resident) for tax purposes
• you held shares in MAIL, which were exchanged for units in MAT2 and cash consideration on 19 December 2011
• you have not elected to be subject to the taxation of financial arrangements rules
• you did not acquire your shares under an employee share scheme
• any gain or loss you made on the shares is a capital gain or a capital loss - that is, you held your shares as an investment asset, not
• as trading stock
• as part of carrying on a business
• to make a short-term or one-off commercial gain.

What happened?

Before the exchange, a MAp stapled security consisted of a unit in MAp Airports Trust 1 (MAT1), a unit in MAT2, and a share in MAIL, all stapled together.

Under the exchange, on or immediately before 19 December 2011:

• the stapling (of a unit in MAT1 to a unit in MAT2 and a share in MAIL) was suspended
• each MAT2 unit was split into 10,000,000 MAT2 units
• each MAIL share, valued at $1.690708, was acquired by MAT2 in return for the issue of 12,277,658 new MAT2 units (valued at 89.0708 cents in total) and 80 cents cash
• the units in MAT2 were consolidated on a 22,277,658 into 1 basis, which consolidated into one MAT2 unit
• the 10,000,000 units into which each prior MAT2 unit was split
• the 12,277,658 new MAT2 units issued in respect of the acquisition of the MAIL share to which each prior MAT2 unit had been stapled
• stapling of one MAT1 unit to one MAT2 unit was effected.

After the exchange, a MAp stapled security consisted of a unit in MAT1 and a unit in MAT2, stapled together.