Key points

• Macquarie Bank Limited has received final approval to restructure the Macquarie Group into a non-operating holding company (NOHC) structure containing separate banking and non-banking groups. The new NOHC, Macquarie Group Limited, will be listed on the Australian Stock Exchange. 

See the Explanatory Memorandum for further information, in particular the following sections: ‘At a Glance’, Section 1 and Section 3.

• The Restructure is intended to address two key objectives simultaneously:
  • position the Macquarie Group to continue to pursue the strategies that have been responsible for its strong growth, and
  • assist the Macquarie Group in meeting its obligations to the Australian Prudential Regulation Authority (APRA).
• The MBL Board considers the Restructure to be the most appropriate solution of the alternatives available. The restructured Macquarie Group will have a structure similar to that used by a significant number of major financial institutions globally. 

See the Explanatory Memorandum for further information, in particular the following sections: ‘At a Glance’ and Section 1.

• Shareholders (except for Ineligible Foreign Shareholders) will receive one Macquarie Group Limited share in exchange for each Macquarie Bank Limited share. Optionholders will receive one Macquarie Group Limited option in exchange for each Macquarie Bank Limited option.

See the Explanatory Memorandum for further information, in particular the following sections: ‘At a Glance’ and Section 1.

• The Restructure was approved by macquarie Securityholders and Optionholders at meetings on 25 October 2007. The Australian Federal Court issued final approval on 29 October 2007. 

See the Explanatory Memorandum for further information, in particular the following sections: ‘At a Glance’ and Section 1.

• There will not be a taxable event for most Shareholders and most Optionholders.

See the Explanatory Memorandum for further information, in particular the following sections: ‘At a Glance’, Section 7 and Section 8.

• Most personal information on your Macquarie Bank Limited shareholding will be automatically transferred across to your new holding in Macquarie Group Limited upon implementation. This will include name and address details, bank account information, Dividend Reinvestment Plan (DRP) elections and any carried forward DRP balance, and any Australian Tax File Number (‘TFN’) or Australian Business Number (‘ABN’) (as appropriate) quoted by a Macquarie Bank Limited Shareholder. Shareholders will not be required to re-submit these details to MGL in respect of the MGL shares issued to them under the Restructure.

See the Explanatory Memorandum for further information, in particular the following sections: Section 7.6 and Section 8.5.6.