At the extraordinary General Assembly of Swissgrid Ltd held on 5 December 2018, shareholders agreed to the proposals of the Board of Directors. A capital increase was accepted for the acquisition of further parts of the transmission grid as of 3 January 2019. The Federal Council is expected to approve the amendments to the articles of incorporation, which are required for transactional reasons, by the end of December 2018.
Swissgrid will acquire additional facilities pertaining to the transmission grid as at 3 January 2019. Their provisional total value amounts to CHF 10.0 million. In the autumn of 2019, the value will be adjusted to balance out the difference between the book values and the system values imposed by the Swiss Electricity Commission (ElCom) during 2019. As with acquisition transactions completed at the start of 2013, 2014, 2015, 2016 and 2018, the previous owner will receive compensation, 30% of which will be Swissgrid shares and 70% loans. As the result of a capital increase, new Swissgrid shares are created for that with a nominal value of CHF 0.9 million (half of them are registered A shares and registered B shares). The nominal share capital thereby increases to CHF 319.0 million.
Planned statute changes
The amendments to the articles of incorporation of Swissgrid Ltd, which are required for transactional reasons, are to be approved by the Federal Council in December 2018.