Announcement | UNIPER SE | Informative Notice

On September 21, 2022 Fortum Corporation announced it’s intention to fully divest UNIPER SE to the German State as part of the stabilisation package for UNIPER SE. The German State intends to underwrite a significant equity capital increase of UNIPER SE at EUR 1.70 per share excluding shareholders’ subscription rights. In connection with the capital injection, the German State intends to buy all of Fortum Corporation shares in UNIPER SE for EUR 1.70 per share. Upon completion of the transaction, the German State will own appr. 98.5 percent of UNIPER SE. The agreed transaction is subject to EU regulatory clearances, in particular the final approvals by the EU Commission under state-aid law and merger-control law, and UNIPER SE Extraordinary General Meeting currently scheduled for December 19, 2022. UNIPER SE expects the necessary regulatory approvals to be granted before the Extraordinary General Meeting on December 19, 2022.

Following the above recent events Solactive AG reached the conclusion to treat the nationalisation of UNIPER SE as an extraordinary and exceptional event and remove UNIPER SE from all Solactive administered indices effective on Friday, December 2, 2022. The rationale of this decision is based on the below reasons:
1. As the transaction is completed as planned, we expect there to be a significant drop in the liquidity of UNIPER SE which may hamper the ability for index users to divest of any holdings at a fair price
2. Application of this removal now will provide sufficient time for index users to trade out of their position in more liquid markets and therefore avoid tradability and index replicability issues.
3. Solactive determines that the expectation by the market of nationalization has an overriding impact on the otherwise usual market forces (supply and demand, liquidity etc.) and therefore has an event-driven dilutive impact in the weeks prior to the completion of the stabilization package.

The proposed treatment is as below:

UNIPER SE (UN01.DE) will be removed from the indices.
The weight of UNIPER SE (UN01.DE) based on its last close price will be distributed pro rata to remaining Index constituents.
Effective Date (open): 02 Dec 2022

Please find the relevant Solactive website announcement: