Macquarie International Infrastructure Fund (MIIF) said on Feb 21 it plans to amend the management fee structure to maximise divestment proceeds to shareholders as it prepares to sell its assets and wind down the company.
MIIF said it has proposed to MIMAL, its manager, to reduce the base fee, which would lower the company’s operating expenses and encourage MIMAL to pursue the divestments. MIIF also proposed establishing a success fee linked to the successful divestment of its businesses, which rewards outcomes that maximise divestment proceeds to shareholders.
The proposed amendments will require MIIF shareholders’ approval at its March 8 AGM.
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