ex beppa holders

This is in PIH announcement this morning.Looks like there is no value left in the AET+D option.

The Boards also resolved, subject to certain conditions, including regulatory and
other approvals, to make an in-specie distribution of shares in Prime AET&D
Holdings No. 1 Pty Limited, formerly known as BBI EPS Limited (AET&D Holdings)
to the Securityholders of Prime Infrastructure. The in specie distribution is being
effected to reinforce the quarantined nature of AET&D and to simplify Primes
2 | Prime Infrastructure
3 | Prime Infrastructure
corporate structure. By way of background, an option over the shares in AET&D
Holdings wholly owned subsidiary, Prime AET&D Holdings No 2 Pty Limited was
granted to the "EPS Promisor", an independent third party, which holds the option
for the benefit of the former holders of BBI Exchangeable Preference Shares. The
option may be exercised on payment of $1. As a result of these arrangements, the
shares of AET&D Holdings have no value to whoever holds them, whether it is
Prime Infrastructure or its security holders. As the shares in AET&D Holdings have
no value, there will be no adverse tax consequences for Prime Infrastructure
Securityholders receiving shares in AET&D Holdings.
Once all of the conditions are satisfied a record date will be set and it is intended
that Prime Infrastructure Securityholders on the record date (Eligible
Securityholders) will receive an in-specie distribution of one share in AET&D
Holdings for each Prime Infrastructure security held. Eligible Securityholders will
also receive a letter containing further information regarding AET&D Holdings and
the transfer, which will be accompanied by a personalised security holdings
statement.
Merger with Brookfield Infrastructure
Prime Infrastructure also announced today, that is has entered into a definitive
merger agreement with Brookfield Infrastructure Partners. A separate
announcement has been released which provides further detail on the proposed
transaction.
Attachments
Attached is a copy of Prime Infrastructures Appendix 4E Financial Report.
A separate Results Presentation will also be released which provides further detail
on Prime Infrastructures 2010 financial performance.