Ethane Pipeline Income Fund (ASX code EPX)
The Ethane Pipeline Income Fund provides investors with a tax-effective, stable cash flow with a moderate investment risk. The Ethane Pipeline Income Fund (formerly Mariner Pipeline Income Fund) listed on the Australian Stock Exchange (ASX:EPX, formerly MIT) on 12 September 2006. The underlying core asset is the 1,375km Moomba to Sydney Ethane Pipeline that supplies ethane to Qenos, Australia’s sole producer of polyethylene (of which ethane is critical). Qenos holds over 50% market share of the Australian polyethylene market.
At the Extraordinary General Meeting held on 19 December 2008, securityholders resolved that Mariner Securities Limited be replaced by APA Ethane Limited ACN 132 157 290, AFSL 327 999 as responsible entity of the fund that comprised Mariner Pipeline Income Trust ARSN 118 961 167 and Mariner pipeline Income Financing Trust ARSN 118 961 023. That change was effective from 23 December 2008.
The name of the fund changed to Ethane Pipeline Income Fund, and the two trusts that comprise the fund also changed their names:
- Mariner Pipeline Income Trust to Ethane Pipeline Income Trust
- Mariner Pipeline Income Financing Trust to Ethane Pipeline Income Financing Trust
The Australian Securities Exchange (ASX) code for the Fund changed from MIT to EPX.