The conversion is being effected by way of a plan of arrangement under the Business Corporations Act (British Columbia). It is anticipated that the conversion will become effective on or about 1 January 2011.
On the effective date of the conversion, each unit of the Fund will be automatically exchanged for one common share of Macquarie Power and Infrastructure Corporation (MPIC), the successor corporation to the Fund.
The common shares of MPIC will be listed on the Toronto Stock Exchange (TSX) and trade under the symbol MPT, subject to satisfaction of the customary conditions of the TSX.
In addition, the Fund’s 6.50% convertible unsecured subordinated debentures due 31 December 32016 will become obligations of MPIC and will continue to have substantially the same terms and conditions, with the automatic adjustment that they will be convertible into MPIC common shares in accordance with their terms.
