resructure

One of the reasons why the MIG has not moved as well as say Hills Mot or Transurban is the static nature of MIG dividends. I think this is about to change in a big way.At the moment Macquarie European Infrasrture PLC (MEIP) is a company as distinct the MIT 1 and 11 which are trusts cannot by English law distribute money unless there is profit...so all the revenue from M6 Toll, 407 ETR (30%) and other foreign assets would be held up in MEIP and could not be distributed to us...
MIG is now proposing to insert MIBL (Macquarie Infra..Bermuda Ltd) as the owner of MEIP and so foreign revenue proceeds to MIBL where it can distributed to us.
Bermuda is chosen because its law is really English and there is no tax on divs and capital gain.
All this needs 70% shareholder approval. Gets your votes in.