Alpiq reduces size of Board of Directors and proposes conversion of shareholder hybrid loans

• The shareholder hybrid loans will be converted by means of an ordinary increase in share capital.

• This will simplify the capital structure and strengthen the ability to operate on the capital market.

• The Board of Directors will be downsized from 13 to 10 members.

• The Extraordinary General Meeting will take place on 29 October.

Lausanne – On 14 October 2020, the Board of Directors of Alpiq Holding Ltd. resolved to propose the conversion of the outstanding shareholder hybrid loans into equity amounting to CHF 366.5 million. The conversion of these shareholder hybrid loans into equity will be on the agenda at the Extraordinary General Meeting on 29 October 2020, and the Board of Directors will propose to the General Meeting that the conversion into Alpiq shares be carried out by means of an ordinary capital increase with payment by offsetting. 

At an issue price of CHF 70 per share, 5,235,715 new shares with a nominal value of CHF 0.01 each will be issued, and the share capital will be increased by a nominal value of CHF 52,357.15. The new shares will be paid in by offsetting the shareholders’ claims against Alpiq Holding Ltd. arising from the outstanding shareholder hybrid loans and by means of a cash deposit. The difference of CHF 366,447,692.85 will be credited to the equity in the form of an agio. 

This measure will strengthen Alpiq’s ability to operate on the capital market, simplify its capital structure, strengthen its equity position and is in line with the company’s systematic financial strategy. The public hybrid loan of CHF 650 million will not be affected by the conversion of the shareholder hybrid loans.

Alpiq Board of Directors to be downsized

With effect from 29 October 2020, the size of the Alpiq Board of Directors will be reduced from 13 to 10 members. The resignations of the Board members Anne Lapierre, Dominique Gachoud and Heinz Saner submitted on 14 October 2020 will enable this reduction. On behalf of the entire Board of Directors, Chairman Jens Alder expressed his gratitude to the retiring Board members for their strong commitment and their valuable contributions towards the continuous, target-oriented development of the company. From 30 October 2020, Alpiq’s Board of Directors will be constituted as follows: Conrad Ammann, Tobias Andrist, Aline Isoz, Jørgen Kildahl, Alexander Kummer-Grämiger, Wolfgang Martz, Hans Ulrich Meister, Jean-Yves Pidoux, Phyllis Scholl together with the Chairman of the Board Jens Alder.  

Sustainable, financially sound energy business

Alpiq pursues a sustainable, financially sound and risk-adjusted business model that is in line with its clear strategy, in order to contribute to improving climate protection and to strengthen the security of supply in Switzerland and for its customers on the European markets.

More information about Alpiq: www.alpiq.com