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Performance fee for Six Months Ended 30 June 2004 |
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06 July 2004 Macquarie Communications Infrastructure Group (MCG) today advised that a performance fee of $10.39 million is payable to its Manager1 for the period 1 January to 30 June 2004. Each six months the Manager of MCG is eligible to earn a performance fee if the MCG accumulation index outperforms the S&P ASX 200 Industrials Accumulation Index (Benchmark). The performance fee is 20% of the outperformance over the Benchmark for the period. In the period 1 January 2004 to 30 June 2004 the MCG accumulation index2increased by 22.1% while the Benchmark3 increased by 11.7%. MCG has therefore outperformed the Benchmark by 10.4%. This outperformance results in a performance fee of $10.39 million. The Manager will apply the performance fee to a subscription for MCG securities4. 1 The Manager of MCG is Macquarie Communications Infrastructure Management Limited (MCIML), a wholly owned subsidiary of Macquarie Bank Limited. 2 The performance of the MCG accumulation index is measured as the simple average closing price over the last 15 trading days of each six month period compared to the previous corresponding period. 3 The performance of the Benchmark (S&P ASX 200 Industrials Accumulation Index) is measured as the simple average closing price over the last 15 trading days of each six month period compared to the previous corresponding period. 4 MCIML announced on 4 July 2003 that it had resolved to apply any further performance fees to the subscription for MCG securities, subject to variation with six months’ notice and any Corporations Act constraints. For further information, please contact:
David Beck
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