| Media release
During the extraordinary board meeting of Swissgrid Ltd on 28 November 2016, the Board of Directors implemented the share capital increase due to the valuation adjustments of assets that were acquired on 4 January 2016. The amendments to the articles of incorporation of Swissgrid that were necessary as a result were approved by the Swiss Federal Council on 9 December 2016.
The Swiss Federal Electricity Commission EICom stipulated a provisionally defined acquisition value for the assets acquired on 4 January 2016, which is why the planned valuation adjustments amounting to a total of CHF 18.26 million could be made with retroactive effect from 4 January 2016. The previous owners are being compensated for the investment in their transmission grid systems with 30% of the value in Swissgrid shares and 70% of the value in a loan claim against Swissgrid. In exchange, in connection with the already existing conditional capital, new Swissgrid shares with a par value of CHF 1.6 million will be issued (one half each registered A shares and registered B shares), as a result of which the nominal share capital shall be increased to CHF 317.9 million. The conditional share capital falls to the same extent by CHF 1.6 million to CHF 128.4 million. As a result of the valuation adjustment, the total equity of Swissgrid increases by CHF 5.48 million (this corresponds to 30% of the valuation adjustment amounting to CHF 18.62 million).
The corresponding amendments to the articles of incorporation of Swissgrid Ltd were approved by the Swiss Federal Council on 9 December 2016.