Distribution Reinvestment Plan
The Directors of RiverCity Motorway Group advises investors that due to the effect market conditions have had on the Group’s unit price, the intended distributions have been suspended during the remainder of the Fixed Distribution Period (FDP).
The Group had intended to make distributions equivalent to 6.0 cents per Stapled Unit per annum until 31 December 2011.
The Directors remain confident that the Group is well positioned to establish a sustainable toll road business and intend to make distributions to investors after the start of toll road operations in 2010. Those distributions will be based primarily on the surplus of toll receipts over operating costs.
The adverse market conditions do not have any bearing on project delivery, which is continuing ahead of expectations. The company has long-term financing in place, construction is proceeding ahead of schedule and Brisbane’s population, employment and traffic growth are all in line with the Group’s forecasts.
View full ASX Release Suspension of Distributions During Remainder of Fixed Distribution Period