FAQs

What am I investing in?
An investment in BrisConnections Unit Trusts (comprising a stapled security made up of one unit in BrisConnections Investment Trust and one unit in BrisConnections Holding Trust).   BrisConnections is listed on the Australian Securities Exchange ("ASX").
BrisConnections has been awarded by the State of Queensland the concession to design, construct, operate, maintain and finance Airport Link for a period of 45 years from 2008 and to receive toll revenues.

What is the ASX code?
BrisConnections’ ASX code is BCS.

What is a stapled security?
A stapled security is a security that is made up of one unit in BrisConnections Investment Trust and one unit in BrisConnections Holding Trust (together referred to as BrisConnections). Because they are stapled together you cannot trade one without the other. In the case of listed securities, they are jointly quoted on ASX as "stapled securities". BrisConnections investors hold one BrisConnections Investment Trust unit and one BrisConnections Holding Trust unit "stapled" together and jointly quoted on the ASX under the code "BCS".

How do I invest / how do I buy securities / how do I sell securities?
BrisConnections is listed on ASX. Therefore to purchase or sell securities it is necessary to contact your broker. If you do not already have a broker you can call ASX Broker Referral Service on 1300 300 279 or go to their website: www.asx.com.au

How do I redeem my investment?
BrisConnections is a listed vehicle therefore it is not possible to redeem your securities. To dispose of your investment you need to sell your securities on ASX via your broker. If you do not already have a broker you can call ASX Broker Referral Service on 1300 300 279 or go to their website: www.asx.com.au

How do I check the trading price of BrisConnections’ securities?
Security price information is available at www.asx.com.au

Structure

Stapled securities in BrisConnections are fully paid securities.

Distributions

Where can I find details of distributions that have been paid?
Through the web pages of BrisConnections’ registry, Link Market Services, or via the telephone service, you can check previous distribution payments related to your current or previous holding and access the relevant forms to notify us of any changes to your address and direct credit details for future distributions.

You will need your Shareholder Reference Number or Holder Identification Number.

Link Market Services
Level 12, 680 George Street, Sydney NSW 2000 Australia
Telephone: 1300 554 474/+61 2 8280 7111
Email: registrars@linkmarketservices.com.au
Website: www.linkmarketservices.com.au

BrisConnections has announced it has suspended its distributions.
On 20 November 2009, BrisConnections announced that in accordance with emerging infrastructure sector practice and prevailing general market attitude, it was until further notice suspending distributions. When toll road operations commence in 2012, BrisConnections will seek to align distributions with operating cashflow (subject to management of its financial position). BrisConnections did not pay any distributions for the period ending 30 June 2010.

In what form are payments (distributions) from BrisConnections made?
When BrisConnections recommences payment of distributions, you will automatically participate in the Distribution Reinvestment Plan (DRP) unless you complete a variation form to opt out of the DRP.
BrisConnections may cap participation in the DRP to avoid material dilution of security holders’ interests.

Alternatively, you can elect to receive distributions from BrisConnections by direct payment to your bank, building society or credit union.
Forms to make these elections are available here or through our registry Link Market Services at www.linkmarketservices.com.au.

Investors should note that BrisConnections will only pay distributions having regard to the financial circumstances of BrisConnections and there is no guarantee that any distributions (including the distributions during the Fixed Distribution Period ending 30 June 2014) will be paid.  Any decision regarding distributions will be made in the best interests of all unitholders.

What is the DRP?
The Distribution Reinvestment Plan (DRP) provides for reinvestment of investors’ distribution payments by subscribing for additional stapled securities under the DRP, in lieu of receiving a cash distribution.

Currently, the DRP operates so that for distributions paid by BrisConnections, payment will be made in BrisConnections stapled securities UNLESS a unitholder elects not to participate in the DRP by completing a variation form.

Securities are allocated at the daily weighted average market price of the Schemes’ securities on the ASX over a period of 20 business days commencing on the day before the distribution record date. As stated above, BrisConnections has suspended distributions so the DRP is not currently operational.

The terms of the DRP can be obtained from our website at www.brisconnections.com.au

A DRP variation form is also available from our website or our registry Link Market Services at www.linkmarketservices.com.au

Your DRP variation will only be effective for a future distribution if it is received sufficiently in advance of the distribution. The closing date for lodging a DRP variation form in respect of a forthcoming distribution will be announced at the same time the distribution is announced but is likely to be a few days before the record date.

Contacts

How do I change my address / bank details?
To do this, you need to send written authorisation to Link Market Services quoting your Shareholder Reference Number or Holder Identification Number and signing your request. It is not possible to do this over the internet as your signature is required.

How do I make a complaint?
BrisConnections provides a complaints handling and dispute resolution process for unitholders and is a member of the Financial Ombudsman Service.  BrisConnections also has a policy for dealing with complaints.  A copy of the policy is on the BrisConnections website.

Unitholders who wish to complain should write to:

BrisConnections
C/- Link Market Services Limited
Locked Bag A14
Sydney South NSW 1235

If you are dissatisfied with the response from BrisConnections, you can raise the complaint directly with the Financial Ombudsman Service at:

Financial Ombudsman Service
GPO Box 3
Melbourne Vic 3001
Telephone: 1300 780 808
Fax: (613) 9613 6399
Website: www.fos.org.au
Email: info@fos.org.au

How can I access details of my holding of stapled securities?
Through the web pages of BrisConnections’ registry, Link Market Services, you can check on your current holding and access the relevant forms to notify us of any changes to your address and direct credit details.

You will need your Shareholder Reference Number or Holder Identification Number.
Link Market Services
Level 12, 680 George Street, Sydney NSW 2000 Australia
Telephone: 1300 554 474/ +61 2 8280 7111
Email: registrars@linkmarketservices.com.au
Website: www.linkmarketservices.com.au

How can I give notification of my Tax File Number (TFN)?
Advice of TFNs can be made over the phone or in writing to the Link Market Services. You may choose not to provide your TFN, but if you are an Australian tax resident individual and you do not provide your TFN, distributions you receive that are assessable income will have income tax deducted from them at the highest marginal rate.

How can I choose to receive or no longer receive the Annual Report?
You can request to be sent the Annual Report, in either electronic or hard copy, by writing to Link Market Services or completing the annual report election form on our website and sending it to Link Market Services.  If you do not request to be sent a copy of the Annual Report, you will receive notification when it is made available on the BrisConnections website.

What is my SRN or HIN?
SRN - Shareholder Reference Number for Issuer Sponsored holdings.
HIN - Holder Identification Number for Broker Sponsored holdings.
These can be found on your latest holding statement.

What is the difference between Issuer Sponsored and Broker Sponsored?
Issuer Sponsored - An Issuer Sponsored holding is maintained by the issuer of your stapled securities,   BrisConnections, via the registry. Issuer sponsored securities can be traded through any broker to whom you have given permission to access your holding for the purposes of buying or selling securities. Issuer Sponsored holdings are allocated a Shareholder Reference Number (SRN) prefixed by an 'I' and can be found on your holding statement.
Broker Sponsored - Broker Sponsored holdings are allocated a Holder Identification Number (HIN). Your SRN will then become your HIN prefixed by an 'X'.

What is required if a holder dies?
When a holder dies, their assets form part of their estate. The administration of an estate can be complex, time consuming and sometimes distressing. BrisConnections’ registry, Link Market Services, has created a range of services for assistance when dealing with an estate.

Can I transfer my stapled securities to another person?
Yes, you can transfer your stapled securities to another person by off-market transfer. Simply contact Link Market Services to have the appropriate forms mailed to you.

Management

Who manages BrisConnections?
BrisConnections Management Company Limited (BCMCL) acts as the responsible entity of the BrisConnections Unit Trusts.  BCMCL is a public company now ultimately owned by BrisConnections Holding Trust and holds an Australian Financial Services Licence issued by the Australian Securities and Investment Commission to act as responsible entity of BrisConnections.

BCMCL has entered into a services agreement so that its management services are provided by BrisConnections Operations Pty Limited, a subsidiary of BrisConnections, in consideration of a rebate on the management fee.  This agreement does not, however, relieve BCMCL from its obligations as responsible entity under the Corporations Act.

What are the ongoing fees and expenses?
BCMCL is entitled to an annual management fee of $1.35 million (subject to CPI adjustment) as responsible entity of the BrisConnections Unit Trusts.  In addition, BCMCL is entitled to be reimbursed for costs and expenses incurred in the proper performance of its duties as responsible entity.  Pursuant to the internalisation of BCMCL, all of that management fee is now captured within BrisConnections.

What are BrisConnections’ Corporate Governance Principles and Policies?
BrisConnections’ corporate governance principles are guided and informed by the ASX Principles, as updated by the ASX Corporate Governance Council in its statement of 30 June 2010.

All BCS’s corporate governance practices and policies are implemented to ensure that the interests of security holders and other stakeholders in BrisConnections are protected at all times.

BCS’s guiding corporate governance principles are to:

• Lay solid foundations for management and oversight
• Structure the Board to add value
• Promote ethical and responsible decision-making
• Safeguard integrity in financial reporting
• Make timely and balanced disclosure
• Respect the right of security holders
• Recognise and manage risk
• Remunerate fairly and responsibly

Full details and copies of the various policies and charters are available at the BrisConnections’ website www.brisconnections.com.au

As a reflection of BrisConnections’ approach to transparent and appropriate corporate governance, at a members meeting to be held in November 2010, it is proposed to amend BCS’ constitutions to adopt greater corporate governance measures than currently apply to listed schemes.

The law in Australia does not require trusts such as BrisConnections to seek the approval of its security-holders on matters such as the appointment of directors to the responsible entity Board, adoption of financial accounts, or for non-binding votes on remuneration reports.  BCS Board is proposing to introduce these governance measures to BrisConnections.

Click here to view the BrisConnections Contract Structure.

About the Project

What is BrisConnections’ role in the Project?
BrisConnections successfully tendered to the Queensland Government to design, construct, operate, maintain and finance the $5.6 billion[1] Airport Link Project incorporating the Northern Busway and Airport Roundabout Upgrade projects.

Airport Link is Australia’s largest transport infrastructure project

BrisConnections has a 45-year concession from 2008 to build and operate Airport Link. We are here for the long haul and our priority is the people of Brisbane and our future road users.

Airport Link will be a key piece of infrastructure linking two of Brisbane’s largest employment areas of the CBD and the Australia TradeCoast, providing the first free-flow road linking these areas to the North and North–Western suburbs.

BrisConnections is also delivering the Northern Busway (Windsor to Kedron) and Airport Roundabout Upgrade projects, directly funded by the State, which will be handed back to the State upon completion. Neither of these projects will be tolled.

BrisConnections engaged a Thiess John Holland Joint Venture to design and construct all three projects.

The projects have enabled the employment of more than 3600 staff and have created a total of 12,000 direct and indirect job opportunities in the wider community.

Click here to view the BrisConnections Corporate Structure.

What is the Project?
Airport Link will be a 6.7 kilometre multi-lane electronic free-flow tollroad with dual 5.7 kilometre tunnels located in Brisbane, Queensland providing a link:

• between northern suburbs and Brisbane CBD;
• to one of Australia’s fastest growing airports – Brisbane Airport; and
• to Australia Trade Coast, Australia’s fastest growing industrial and trade precinct.[2]

BrisConnections has been awarded by the State of Queensland the concession to design, construct, operate, maintain and finance Airport Link for 45 years from 2008.

The project also includes the design and construction of the Windsor to Kedron section of the Northern Busway and the construction of the Airport Roundabout Upgrade, an upgrade to the roundabout at the East-West Arterial / Airport Drive / Gateway Motorway interchange.

Why do we need Airport Link?
The Airport Link will transform Brisbane and help to build a better Brisbane community through its economic and social value to the city.

When it goes into service in 2012, Airport Link will improve the working lives of thousands of Brisbane residents who battle traffic gridlock and delays each day. Travellers will get to and from the airport in much less time and with a greater degree of certainty.

Airport Link is expected to provide up to a 50% reduction in peak period 2012 travel times, based on travel time savings provided by Arup. The road will avoid up to 18 sets of traffic lights.

Airport Link will deliver underground, free-flowing and predictable travel, reduced congestion on key surface roads and improved air quality from less traffic congestion.

The Northern Busway will offer congestion-free travel and cater for 47,000 trips per day by 2016 - a bus every 30 seconds in peak hour – and help to reduce congestion, pollution and traffic noise.

The Airport Roundabout Upgrade, including a new fly-over above the upgraded interchange, will save 10 minutes travelling to and from the airport.

This is Australia’s largest privately funded transport infrastructure project and it will transform Brisbane’s road network. It is a multi-destination link that will service an area containing more than 60% of the Brisbane population.

Airport Link will boost business efficiency in the economic heart of one of Australia’s highest growth capital cities. Brisbane’s population growth is running at about 2.7% per annum[3], and economic growth is expected to be about 4.5% in 2012.[4] Forecasts show that air travel demand through Brisbane airport will continue to grow strongly so demand for reliable road access to the airport will also grow.

The Australia Trade Coast is one of the fastest growing trade and industry region in Australia[5], with a forecast increase in road freight movements of 97% by 2026[6]. The Airport Link network will provide quality, efficient road access for our important freight industry.

Experience in other states has demonstrated that property values are enhanced at key sites along major transport hubs due to improved connectivity and accessibility.

Why are there three projects? What are they?
The State has awarded BrisConnections the concession to design, construct, operate, maintain and finance Airport Link, as well as two further contracts, for the construction of the Northern Busway (Windsor to Kedron) and the Airport Roundabout Upgrade. These two projects will be handed back to the State on completion and are funded by the State.

The reason all projects were combined is to minimise the impacts of construction on the community and the environment.

Thiess John Holland, an unincorporated joint venture between Thiess Pty Ltd and John Holland Pty Ltd, has been awarded the contract to design and construct the projects.

How many employees will there be on the Project?
During the design and construction of the project, around 12,000 direct and indirect job opportunities are being created.

Where are the site offices?
Site offices are located in Bowen Hills, Kedron, Toombul, Windsor and Airport Drive.  The Airport Link Operations Centre (ALOC) will be on Stafford Road at Kedron.

Nine major worksites are in operation at Bowen Hills, Truro Street (Windsor), Lutwyche, Colton Avenue (Kedron), Kedron Brook Building, Stafford Road (Kedron), Wooloowin, Toombul and the airport roundabout (Hendra).

How are the tunnels being constructed?
There will be 5.7km of twin tunnels.  Two 12.48m Herrenknect Tunnel Boring Machines (TBMs) are being used and at least 16 road headers.

When will the construction be completed?
Construction is anticipated to be completed by mid-2012.

The first lanes of the Airport Flyover will open in November 2010, 12 months ahead of schedule. The whole Airport Roundabout Upgrade project is on track to be open to the public by mid 2011.

Airport Link and the Northern Busway will be open to traffic by mid-2012.

Tolling and Operations

What is the toll price?
Based on the concession deed, the maximum tolls for cars (in 2010 dollars) will range between $3.45 and $4.60 dependent on the section used, and this will adjust by 2012 indexed by the Brisbane CPI. The tolls for cars will be:

*As per the June 2008 Product Disclosure Statement.
#Adjusted for the Brisbane CPI (2.9% to the end of September).

Different tolls will apply for light and heavy commercial vehicles, as is the case for all toll roads in Queensland.

What are BrisConnections traffic forecasts?
Airport Link is expected to provide up to a 50% reduction in peak period 2012 travel times avoiding up to 18 sets of traffic lights.  There is already an existing need for Airport Link to provide a travel route connecting Brisbane’s key destinations.

Traffic forecasts have been prepared by Arup, who also developed the Brisbane Strategic Transport Model for Brisbane City Council and Queensland Department of Main Roads in 2000.  A summary of the forecasts is available in BrisConnections Product Disclosure Statement dated 24 June 2008.

As with all forecasts, various assumptions and inputs were included and these were tested and subject to detailed due diligence. BrisConnections continues to monitor the inputs and these remain generally neutral or positive and BrisConnections is confident that its forecast traffic numbers remain sound.

BrisConnections has reviewed the performance of a number of other toll roads. Experience clearly indicates that the level of success is considerably improved when the road fulfils an essential economic need, as is the case for Airport Link. 

Airport Link connects a number of key economic zones and destinations including Brisbane’s northern suburbs, the CBD and Brisbane Airport, the Clem7 and the Inner City Bypass. It will also serve as a key network distributor, linking some of Brisbane’s major destinations such as the airport, the CBD, Royal Brisbane Hospital and Australia TradeCoast.

Clem7 is one of a number of routes that delivers traffic from the south side of Brisbane to the airport, northern suburbs and TradeCoast precinct and all the routes will contribute to Airport Link traffic.

BrisConnections is satisfied that all feeder roads, including Clem7, will provide sufficient traffic flow for Airport Link.

Where does the road go?
Refer to the journey planner on the website.

What are the travel time savings?
Airport Link is expected to provide a 50% reduction in peak period 2012 travel times, based on travel time savings provided by Arup.  The road will avoid up to 17 sets of traffic lights.

Will it be electronically tolled?
Yes, BrisConnections will have an innovative free-flow tolling design. Electronic free-flow tolling is  mandatory across all Queensland toll roads by July 2009.  Airport Link tags will be fully interoperable with other Australian tollroads.

How will Airport Link operate its tolling?
Airport Link will use the latest Automatic Number Plate Recognition (ANPR) system available in Australia.

The system takes multiple images of every vehicle from the front, rear and overhead. It uses multiple OCR (Optical Character Recognition) engines and image fingerprinting technology which enables the ANPR system to learn from manually verified, reference images taken of every vehicle. Its accuracy improves the more times it reads a number plate.

Unlike earlier OCR systems, the new ANPR system will also cross reference registration information, including against lists of duplicate or difficult to read plates (particularly personalised plates), and will be able to determine the State of registration. This is a much more thorough process than earlier generation OCR systems.

BrisConnections clarification - 20 October 2008  view here

[1] Including finance and interest costs

[2] Australia TradeCoast Economic Assessment and Forecast Study, March 2008
[3] Office of Economic Statistics Queensland, 2010
[4] Office of Economic Statistics Queensland, 2010
[5] Australia TradeCoast Economic Assessment and Forecast Study, March 2008
[6] Australia TradeCoast Economic Assessment and Forecast Study, March 2008