Prime Infrastructure comprises Prime Infrastructure Holdings Limited (PIHL), Prime Infrastructure Trust (PIT) and Prime Infrastructure Trust No 2 (PIT 2) (together PIH). Prime Infrastructure RE Limited is the responsible entity for PIT and PIT 2 (Responsible Entity). An investment in Prime Infrastructure is constituted as an investment in a Triple Stapled Security comprising a share in PIHL, a unit in PIT and a unit in PIT 2.
The Triple Stapling took place by way of an in-specie distribution by PIT of a PIT 2 Unit to all Securityholders on 20 November 2009, immediately after the conversion of the Exchangeable Preference Shares and immediately prior to the allotment of New Securities in Prime Infrastructure (being the new Stapled Securities offered and issued under the Recapitalisation). Details of the Recapitalisation are set out in the Prospectus and Product Disclosure Statement to the Recapitalisation. Click here to access further information on the Recapitalisation.
On 9 December 2010, through the merger of Prime Infrastructure and Brookfield Infrastructure Partners LP acquired the Triple Stapled Securities of PIH. Securityholders of PIH received either: