On 7 December, Fluxys Belgium took over the trading services from its sister company Huberator. As it goes, these services will come under the regulated framework as part of the transmission activities from 2016 onwards. By taking over these activities, Fluxys Belgium is expanding its service offer with a package facilitating the physical and notional trading of gas.

Fluxys Belgium's takeover took the form of a notarial universal transfer, meaning that the service offer was transferred as well as all assets and liabilities of Huberator, including any associated tangible and intangible rights and obligations, such as contracts.

The transfer came into force as regards accounting and taxation on 1 September 2015 and has no material impact on Fluxys Belgium's results. The regulated tariffs for the trading services were approved on 29 October 2015 and become effective as of 1 January 2016.

With a view to preparing the takeover between the associated companies, a committee composed of independent directors was created within the Fluxys Belgium Board of Directors pursuant to Article 524 of the Belgian Company Code. The opinion issued by the committee confirmed that the transaction price of €52.8 million is not detrimental to the company or its minority shareholders. The committee came to the following conclusion:

'After studying the related documentation, taking into account advice from financial and legal experts, and following the evaluation of the financial consequences of the transaction for the company and its shareholders, the committee has concluded that the transaction is not of such nature to cause any unlawful harm to the company in light of the policy it applies.
Consequently, the committee issues a positive opinion to the Board of Directors with regard to the aforementioned transaction.
The committee's opinion is based on the information available as of 23 September 2015.
Done in Brussels on 30 September 2015,

The Committee 524'

Fluxys SA issued this content on 2015-12-24 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-24 15:05:08 UTC

Original Document: http://www.fluxys.com/belgium/en/NewsAndPress/2015/151224_Huberator?cPage=1&year=2015&cat=press