Uniper’s shareholders have paved the way for the federal government’s prospective exit.
During the extraordinary general meeting they voted with a large majority in favor of a capital cut. “Shareholder approval of the capital reduction is an important step for Uniper,” said CEO Michael Lewis, according to the statement. “In principle and subject to further legal restrictions, it restores Uniper’s ability to pay dividends.”
Paying a dividend is an important decision criterion for investors to buy shares in a company. “We have now created scope for the federal government to exit,” added the manager of the energy company that was nationalized in the gas crisis. How and when the exit will take place has not been decided – “but the sooner we create the conditions for this, the better,” concluded Lewis.
Uniper had to be rescued with state aid in 2022 because massive losses were incurred in fulfilling the contract when Russia gradually stopped its gas deliveries.
In after-hours trading on Tradegate, Uniper shares temporarily rose 2.92 percent to 4.05 euros.
FRANKFURT (Dow Jones)
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