Alpiq reduces its board of directors

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Alpiq reduces its board of directors


The energy group based in Lausanne will keep a board of directors of 10 people after the resignation of three members on October 14, he announced Thursday in a press release.


Alpiq is also planning to strengthen its financial capacity, which will be decided at its extraordinary general meeting on October 29.


© KEYSTONE
Alpiq is also planning to strengthen its financial capacity, which will be decided at its extraordinary general meeting on October 29.


Alpiq intends to reduce its board of directors from 13 to 10 members, strengthen its financial capacity and simplify its capital structure at its extraordinary general meeting to be held on October 29.

To do this, the energy group based in Lausanne will propose the conversion into equity of the hybrid loans of the current shareholders for an amount of 366.5 million francs, specifies a press release published on Thursday.

Three members of the current board of directors, Anne Lapierre, Dominique Gachoud and Heinz Saner, tendered their resignations on October 14.

General assembly

The general meeting will decide on the conversion into Alpiq shares by means of an ordinary capital increase with release by compensation, details the Vaud group.

Some 5.2 million new shares with a par value of 0.01 francs each will be issued at the issue price of 70 francs per share. The share capital will thus be increased by a nominal amount of CHF 52,357.15.

The new shares will be released by offsetting outstanding hybrid shareholder loans and a cash contribution. Alpiq insists that the public hybrid loan of CHF 650 million is not affected by the conversion of shareholder hybrid loans.

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