Uniper SE / Key word(s): Miscellaneous/AGM/EGM
Due to the Russian gas supply curtailments that have been in place since June 2022 Uniper and Fortum agreed on a financial stabilization package for Uniper on 21 September 2022 with the German Government. In addition to a short-term liquidity provision by KfW and an equity participation of the state in the amount of EUR 8 billion, this package provided for the introduction of a gas surcharge, which was to compensate Uniper's losses from Russian gas supply curtailments by 90% as of 1 October 2022. On 30 September 2022, the German Government announced that the gas surcharge would not be implemented as planned and would be replaced by a tailor-made solution to ensure the financial stability of the affected companies. The tailor-made solution for Uniper has been specified as follows:
Furthermore, as already communicated, the acquisition of the Uniper shares currently held by Fortum for EUR 1.70 per share by the Federal Republic of Germany is planned.
The Board of Management of Uniper SE has finally decided today to submit the main elements of the stabilization package for Uniper to the shareholders for approval at an Extraordinary General Meeting on 19 December 2022. The invitation to the Extraordinary General Meeting on 19 December 2022 will be published shortly. The Extraordinary General Meeting already convened for 19 December 2022 will be cancelled. In the context of the Extraordinary General Meeting to be convened now, Uniper will also comply with the obligations pursuant to section 92 German Stock Corporation Act and notify the loss of half of the company's share capital and report on the situation of the company.
The stabilization package is still subject to regulatory approvals in various jurisdictions. This includes, in particular, the final state aid and merger control approvals of the EU Commission. The consultations with the EU Commission are still ongoing. Uniper expects that the necessary approvals will be granted before the Extraordinary General Meeting on 19 December 2022.
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