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Majority Shareholder Creates Option for Capital Increase
On the morning of June 30, 2010, based on the approval of the Supervisory Board Meeting on June 29, 2010, the Presidential Committee of VERBUND Supervisory Board granted the Managing Board's request to convene an Extraordinary General Meeting with "Creation of Authorized Capital for Potential Capital Increase" as an agenda item, scheduled for the beginning of September.
The representatives of the majority shareholder, the Republic of Austria, are in favour of a possible capital increase of about EUR 1 billion and are prepared to support it with around EUR 500 million. This measure would give the company additional flexibility in implementing its long-term investment plan while securing a solid capital structure at the same time.
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