Airport owner Macquarie Airports
(ASX:MAP) has announced that it will go ahead with a one for 11 non-renounceable pro-rata entitlement offer, announced on August 28 2009.
The decision follows the approval of its proposal to internalise management at its meeting with shareholders yesterday.
The offer will give eligible shareholders the opportunity to apply for one Macquarie Airports share for every 11 existing shares in the company held at a price of $2.30 a security.
Macquarie Airports says the new securities will rank equally with existing Macquarie Airport securities on offer and will be entitled to any future distributions declared by the company, including the final full year 2009 dividend.
Macquarie Airports 2008 net profit was $2.07 billion.
