|PRESS STATEMENT BY SIAS ON Macquarie International Infrastructure Fund Limited (MIIF)|
|Date: 04 December 2012|
SIAS’ President met up with the Independent Chairman of the Board, Mr Heng Chiang Men, Independent Director, Mr Frank Kwok and Investor Relations Vice President, Mr Wei Chong to discuss the concerns of the shareholders who have petitioned for the Special General Meeting scheduled for tomorrow, 5 December 2012. Earlier, SIAS was reached by the representatives of the two institutional shareholders, Mr Nicholas Paris and Mr Justin Reynolds. SIAS has considered the representations made by both parties.
SIAS is pleased to note that the Board has, in it’s statement of today, indicated it’s clear intention to appoint an additional Independent Director to the Board which will be undertaken by the MIIF’s Nomination Committee, together with the representatives from a number of MIIF’s major shareholders. SIAS notes that the Nomination Committee currently has four Independent Directors. SIAS is not in favour of increasing the Board by another three Independent Directors as there are already four Independent Directors on the Board and additional Independent Directors will only increase the cost unnecessarily. SIAS is also pleased to note that the Board has given the assurance to the two shareholders, LIM Advisors & Metage, that they will be consulted on the appointment of the additional Independent Director.