CHALLENGER INFRASTRUCTURE FUND 
By MARKET RELEASE
AMENDMENT OF INITIAL CAPITAL DISTRIBUTION AMOUNT AND TIMETABLE 24 October 2012, Sydney - Challenger Infrastructure Fund (ASX: CIF) today announced that the initial capital distribution and payment date announced on 19 October 2012 has been amended.
CIF has received notification from the Australian Taxation
Office (ATO) that it has been selected for an audit in
relation to the taxation treatment of certain foreign income.
As a result of the notification from the ATO, the independent
directors of Challenger Listed Investments Limited (CLIL),
the responsible entity of CIF, have announced that the
initial capital distribution will be reduced by A$0.13 per
unit to A$1.16 per unit, to allow
for the orderly management and finalisation of the audit.
The CLIL Board is confident of CIF's current tax treatment
with regards to the matter identified by the ATO and it is
likely that CIF would challenge any revised tax assessment
should one eventuate. Pending resolution of this matter with
the ATO, the CLIL Board will determine if any further
distribution from cash retained should be made prior to the
wind up of CIF.
CIF was scheduled to be suspended indefinitely from trading
on the Australian Stock Exchange from 4pm on
24 October 2012 and the initial capital distribution
scheduled to be paid on 2 November 2012. Following the
notification of the audit, the CLIL Board has delayed payment
of the revised initial capital distribution of A$1.16 per
unit to 8 November 2012. Please see the updated timetable
below.
As announced on 19 October 2012, if CIF receives any
contingent consideration for the sale of its interests in
Inexus (approximately A$0.111 cents per unit),
the CLIL Board will consider providing an interim
distribution to unitholders in advance of the final wind up
of CIF.
The final wind up of CIF was expected in the first quarter of
the 2013 calendar year. As a result of the audit, the timing
of the final wind up cannot, at this stage, be determined. A
revised distribution timetable for the initial capital
distribution is included below.
CIF will continue to update the market of any material
developments.
1 Based on a GBP/AUD exchange rate of 1.5548, the contingent payment is unhedged and the Australian dollar proceeds are subject to currency fluctuations.
Further enquiry: Chantal Travers, Senior Manager, Investor Relations, Challenger Limited, 02 9994 7560Nicole Webb, Corporate Communications Associate, Challenger Limited, 02 9994 7806
Challenger Infrastructure Fund (CIF Investment Trust 1 ARSN 114 139 703 and CIF Investment Trust 2 ARSN 114 139 632) Responsible Entity Challenger Listed Investments Limited ABN 94 055 293 644 AFSL 236887
Amended distribution timetable2Last day for trading of CIF units on a 'cum' basis for initial distribution | 29 October 2012 |
CIF units suspended from trading on the ASX | 29 October 2012 (4pm Sydney time) |
Ex date | 30 October 2012 |
Record date for initial distribution and for all potential future distributions | 5 November 2012 |
Initial capital distribution paid | 8 November 2012 |
Final distribution paid | To be determined |
2 Subject to change depending on future events.
ENDS
Further enquiry: Chantal Travers, Senior Manager, Investor Relations, Challenger Limited, 02 9994 7560Nicole Webb, Corporate Communications Associate, Challenger Limited, 02 9994 7806
Challenger Infrastructure Fund (CIF Investment Trust 1 ARSN 114 139 703 and CIF Investment Trust 2 ARSN 114 139 632) Responsible Entity Challenger Listed Investments Limited ABN 94 055 293 644 AFSL 236887
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