Macquarie Airports response to court application by Messrs Frazer and Binger
24-Sep-2009 MAp notes that today Messrs Scott Frazer and Kjeld Binger have filed a court application seeking an order restraining MAp from proceeding with certain resolutions in relation to the internalisation at the Special General Meetings scheduled for 30 September 2009 and certain other orders including orders under s247A of the Corporations Act. MAp is named as the defendant to the application.
MAp will oppose the application vigorously. The Explanatory Memorandum and MAp's communications to the market contain all information material to the internalisation. MAp notes that Mr Binger is also a member of Global Airports (GAp). As previously announced, GAp's suggestion to take over MAp's management for a
payment of A$20 million to A$100 million was declined by the Independent Board Committees (IBCs) of MAp earlier this month after due consideration. The IBCs believe that it is in the interests of both security holders and MAp that security holders now have the opportunity to vote on the internalisation proposal. This proposal has been public since 24-Jul-2009.