ASX RELEASE 15 June 2012
The Manager
ASX Market Announcements
Australian Securities Exchange
4th Floor, 20 Bridge Street
Sydney NSW 2000
Dear Sir or Madam
Company Announcement
I attach the following announcement for release to the
market:
• Distribution for quarter ending June 2012.
Yours sincerely
Company Secretary
APA Ethane Limited
ASX RELEASE
15 June 2012
APA Ethane Limited announces the final distribution for the
quarter ended 30 June 2012, at a rate of 4.15 cents per
security. The components for this distribution are listed
below.
Ex Date: Record Date: Payable Date:
Total Distribution Rate:
25 June 2012
29 June 2012
13 July 2012
4.15 cents per security
Components - Australian Sourced Income
Interest income
Tax deferred
1.23 cents per unit
2.92 cents per unit
There is no foreign conduit income to be declared in respect
of the distribution for the quarter ended 30 June 2012.
Both Ethane Pipeline Income Trust and Ethane Pipeline Income
Financing Trust, the two
trusts that comprise the Fund, declare
that they
are managed investment trusts
for the
purposes of Subdivision 12-H of the income year ending 30
June 2012.
Taxation Administration Act 1953 in respect of the
The distribution for the current quarter ending 30 June 2012
continues to be impacted by the repayment of the financing
facility held with Investec. The Fund has sufficient funds to
repay the Investec facility and is in discussions with
Investec with the intention of repaying the
remaining facility
balance on 29 June
2012. This repayment amountt will principally be
funded
through the release of funds quarantined from use in
day-to-day operations after
making prudent allowance for forecast expenditure on major
projects scheduled to occur in the next 12 months.
The board expects to provide guidance with respect to FY2013
distributions at the time the Fund's full year results are
announced in August this year. The distributions will be
impacted by the changes to the tax consolidation legislation
referred to in the Fund's interim FY2012 financial report, if
that legislation is enacted.
There
is no change to the
ongoing Fund distribution policy
of paying distributions from
available net cash flows.
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For further information please contactAmanda Keenan, Investor Relations
Tel: 02 9693 0075
Email: amanda.keenan@apa.com.au
About the Ethane Pipeline Income FundSam Pearce, Fund Manager
Tel: 02 9693 0043
Email: sam.pearce@apa.com.au
The Fund's core asset is the 1,375km Moomba to Sydney Ethane Pipeline that supplies ethane from the Cooper
Basin production facility at Moomba, South Australia to Qenos' Botany ethylene plant.
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