MAp: Changing strokes

With the ink barely dry on its corporate simplification, MAp Group announced bold new plans for Sydney Airport.

MAp Group securities fell 72 cents, or 20%, overnight. This fall has been well flagged in past reviews and relates to the shedding of entitlement to the special 80 cents per security cash payment. Today’s buyer doesn’t get that payment.

The group’s simplification scheme has been approved by security holders and the scheme is due to be implemented on 19 December—with the 80 cent payment mailed or deposited in your bank account on or around the same day.

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