Swissgrid records capital increase and changes to its articles of incorporation

Swissgrid records capital increase and changes to its articles of incorporation

(PRESS RELEASE) AARAU, 8-Jan-2020 — /EuropaWire/ — Swissgrid has announced it has made an entry into the commercial register for a capital increase and amendments to the articles of incorporation. The entry, which has been recorded on 6 January 2020, is about an additional share capital in the commercial register as the first valuation adjustment for the transmission grid systems transferred to Swissgrid on 3 January 2019 resulted in a positive change in value.

The overall positive change in value is a result of the first valuation adjustment for the transmission grid systems transferred to Swissgrid on 3 January 2019 that follows the issuance of the corresponding rulings by the Swiss Electricity Commission (EICom).

The previous owner of the transmission grid systems, transferred to Swissgrid, has been paid for with 30% of the transaction value being in Swissgrid shares and the rest 70% of the value being in a loan claim against Swissgrid. As a result and in connection with the existing conditional capital new Swissgrid shares with a par value of CHF 1,364,423.00 have been issued (one half each «A» registered shares and «B» registered shares) and recorded in the commercial register on 6 January 2020.

These transactions as well as the valuation adjustment have resulted in slight changes to the shareholder base of Swissgrid Ltd.

Swissgrid in brief

Swiss extra-high-voltage grid owner Swissgrid is responsible for operating the grid safely and without discrimination and for maintaining, modernising and expanding the extra-high-voltage grid efficiently and with respect for the environment. The company relies on 500 skilled employees at various sites across Switzerland. Swissgrid is also responsible for tasks in the fields of grid planning, system management and market design in the European exchange of electricity as it is a a member of the European Network of Transmission System Operators ENTSO-E. Various Swiss electricity companies are jointly holding the majority of Swissgrid’s
share capital.

Media contacts:

Swissgrid Media Service
Bleichemattstrasse 31
PO Box
5001 Aarau
Switzerland
T +41 58 580 31 00
media@swissgrid.ch
www.swissgrid.ch

SOURCE: Swissgrid