MAp Group, formerly Macquarie Airports, announced today that its foreign ownership level has fallen from 37.3 per cent to 37.2 per cent.

The company said that its foreign ownership level remains proximate to 39.5 per cent at which point disposal notices will be issued. Foreign investors should consider the risk of forced divestment when purchasing MAp stapled securities.

MAp is not a "foreign person" under the Airports Act 1996 for so long as foreign ownership of MAp is below 40 per cent.

The MAp constitution sets out the process for disposal of securities to prevent MAp from becoming a Foreign Person or to cure the situation where MAp becomes a foreign person.

Where a foreign ownership situation occurs or is likely to occur, MAp can require a foreign security holder, on a last in first out basis, to dispose of Map stapled securities.

MAp said it has the power to commence procedures to divest foreign security holders once the foreign ownership of MAp reaches 39.5 per cent under the foreign ownership divestment rules that it has adopted. If the foreign security holder fails to dispose of its Map stapled securities, MAp may sell those securities at the best price reasonably obtainable at the time.