REG - Macquarie Korea I F - Record date and 2H distribution guidance <Origin Href="QuoteRef">088980.KS</Origin>

Macquarie Korea Infrastructure FundAnnouncement

03/03/2016 13:07

RNS Number : 0615J
Macquarie Korea Infrastructure Fund
15 December 2015
15 December 2015
MACQUARIE KOREA INFRASTRUCTURE FUND
RECORD DATE AND DIVIDEND DISTRIBUTION GUIDANCE FOR THE SIX MONTHS ENDING 31 DECEMBER 2015
Macquarie Korea Infrastructure Fund ("MKIF") announced today that,in accordance with MKIF's Articles of Incorporation, a distribution record date of 31 December 2015 (the "Record Date") has been set to identify holders of its ordinary shares and the Global Depositary Shares (the "Shares") for the purposes of the planned distribution of dividends for the six month period ending 31 December 2015 (the "Second Half Distribution") and exercising voting rights for Annual General Meeting of Shareholders (the "AGM") in 2015.The share register of MKIF is expected to be closed for 12 days from 1 January 2016 to 12 January 2016 to facilitate the identification of MKIF's shareholders as at the Record Date.
Under KOSPI Market Listing Regulation, a listed investment company such as MKIF is required to report the estimated amount of its planned distribution of dividends prior to the Record Date. In compliance with this requirement, MKIF advises that the estimated aggregate amount of the Period is KRW 254 per share (the "Estimated Amount").

MKIF further notes that:
The ex-dividend date for the Second Half Distribution is 29 December 2015;
Under Korean law, an investment company such as MKIF is entitled to receive deductions against its taxable income for the amount of dividends it distributes, subject to distributing higher of taxable income and 90% of its distributable income1. The Estimated Amount is set to allow MKIF to remain tax exempt for the year ending 31 December 2015;
The Estimated Amount does not include return of capital and therefore the whole amount will be subject to the Korean withholding tax; and
The final amount of the distribution will be determined and declared after the statutory financial accounts for the fiscal year ending 31 December 2015 reported and is subject to the approval of the MKIF Board of Directors. 
 In accordance with the revised Enforcement Rules of KOSPI Market Business Regulation, effective from 1 April 2015, the Korea Exchange ("KRX") will no longer adjust the benchmark price of the MKIF ordinary shares by the ex-dividend amount prior to the commencement of trading of the Shares on the KRX on the ex-dividend date.
For further information, please contact:
Jason Pak
Chief Operating Officer 
Macquarie Korea Infrastructure Fund
+ 82 2 3705 8550
Jason.Pak@macquarie.com
Ally An
Investor Relations 
Macquarie Korea Infrastructure Fund
+ 82 2 3705 8565
Ally.An@macquarie.com
This release is not an offer or solicitation for sale of the securities of Macquarie Korea Infrastructure Fund('MKIF') in the United States or in any jurisdiction where any offer, sale or solicitation in respect of such securities is not permitted. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or in any jurisdiction where such offer or sale is not permitted. The securities of MKIF have not been registered under the Securities Act, and may not be offered or sold in the United States absent registration or exemption from registration under the Securities Act. There will be no public offer of the securities in the United States. 
Not for distribution in the United States or in any jurisdiction where any offer, sale or solicitation in respect of the contemplated securities is not permitted.
This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Market Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). Any securities will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire any securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
This release does not take into account the investment objectives, financial situation and particular needs of the investor. Before making an investment in MKIF, the investor or prospective investor should consider whether such an investment is appropriate to their particular investment needs, objectives and financial circumstances and consult an investment adviser if necessary. 
MKIF or Macquarie Korea Asset Management Co., Ltd.(MKAM) is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of this entity do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities.
Investments in MKIF are subject to investment risk, including possible delays in repayment or loss of income and/or capital investment. Neither MKIF, nor any member of the Macquarie Group companies, including MKAM, guarantees the performance of MKIF, the repayment of capital or the payment of a particular rate of return on MKIF securities. 

1. Accounting income for the fiscal year together with any retained earnings and any deficit carried forward

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