Alpiq sets final terms for scrip dividend

Lausanne – The Board of Directors of the Alpiq Holding Ltd. will propose the issue of a scrip dividend (Wahldividende) out of reserves from capital contribution at today’s 7th Annual General Meeting. Shareholders can elect to a dividend payment in cash or to receive newly issued shares. With this Alpiq intends to strengthen its capital base and to improve the financial flexibility of the Group. The majority of syndicated shareholders have already elected to receive new shares.

In the course of publication of the Annual Results 2014 on 9 March 2015, Alpiq announced that the dividend would remain the same at CHF 2.00 per share. In order to strengthen the capital base and improve the financial flexibility of the Alpiq Group, the Board of Directors will propose a scrip dividend (Wahldividende) at today’s Annual General Meeting. The shareholders can elect to a dividend payment in cash or to receive newly issued shares. The dividend will be remitted as an attractive tax payout out of reserves from capital contribution.

As already announced, the syndicated shareholders EOS Holding SA and EDF Alpes Investissements Sàrl, as well as EBM, EBL, Canton of Solothurn, IBAarau and WWZ have elected to exercise the option of receiving new shares. They have entered into an agreement to subscribe new Alpiq shares in line with their current holdings in place of a cash dividend.

With the proposed scrip dividend, each Alpiq shareholder, subject to any legal restrictions applicable in their home jurisdiction, has the right to choose between a cash or share distribution during the election period. If the shareholder chooses the cash distribution, he receives a cash dividend amounting to CHF 2.00 per existing Alpiq share. If the shareholder chooses the share distribution, he receives a certain number of newly issued Alpiq shares free of charge.

The following parameters are valid for the share distribution: The issue price of the new Alpiq share is CHF 74.00. The issue price is based on the volume-weighted average price of Alpiq shares on the SIX Swiss Exchange from 23 April to 29 April 2015. The distribution amounting to CHF 2.00 per Alpiq share will be deducted from this volume-weighted average price, and subsequently discounted by 6.17 %. This results in a subscription ratio of one new share for 37 existing shares. These terms are subject to approval by today’s Alpiq Annual General Meeting.

The election period in which the shareholders can choose between the two options – cash distribution or share distribution – will last from 5 to 13 May 2015, 17.00 hrs. CEST. Delivery of the new Alpiq shares, as well as the payout of the cash dividend is scheduled for 20 May 2015. Listing and trading of the new Alpiq shares is also foreseen for 20 May 2015.

Further information can be found in the document „Scrip Dividend 2015“. The document will be sent to registered shareholders following the Annual General Meeting, subject to approval of the issue of a scrip dividend by the Annual General Meeting and restrictions under foreign law.