Swissgrid takes over additional parts of the transmission grid

04.01.2018

With the entry in the commercial register on 3 January 2018, Swissgrid has taken over additional facilities belonging to the transmission grid.

With the entry in the commercial register on 3 January 2018, Swissgrid has taken over transmission grid systems from an in-kind contributor; 30% of the compensation for the former grid owner consisted of Swissgrid shares and 70% of loans. The provisional book value of the systems transferred totals CHF 2.3 million. Through a capital increase, new Swissgrid shares were created with a nominal value of CHF 0.2 million (half of them were registered A shares and registered B shares). The nominal share capital thereby rose to CHF 318.1 million.

The transfer involved facilities that could not be transferred to Swissgrid earlier for various legal reasons.

Fundamentally, the signed in-kind contribution agreement provides for two value adjustments following the transfer. The valuation adjustment that is expected to be undertaken in autumn 2018 replaces the provisional transfer value with the legally binding asset value set by EICom, retroactive to the handover date. The purpose of the second and last valuation adjustment is to enable the equal treatment of all parties and will be undertaken after the value and scope of the entire transmission grid has been finally determined.

Changes in the Swissgrid shareholder base

Changes in the Swissgrid shareholder base resulted from the takeover of additional transmission grid systems as well as from the valuation adjustment undertaken. The precise distribution of shares as of 3 January 2018 is available on the Swissgrid website.

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