Altri, SGPS, S.A. (ENXTLS:ALTR) agreed to Spin-Off a 16.6% stake in Greenvolt - Energias Renováveis, S.A. (ENXTLS:GVOLT) for approximately €140 million on April 28, 2023. Under the terms, Altri, SGPS will distribute to it shareholders, 23,154,783 shares of Greenvolt and in addition, a dividend in cash in the amount of €51,282,918 would be distributed to shareholders, resulting in the payment of a gross cash dividend of €0.25 per share. However, the number of shares received will be reduced based on the application of the recipient’s relevant withholding tax rate.

In order to reflect the tax implications of the event, the terms will be adjusted to deduct 25% based on the maximum withholding tax rate which is applicable to Portugal tax domiciled constituents within GEIS. Altri SGPS will trade ex-entitlement to the distribution of shares and a temporary line representing the Greenvolt's distribution shares will be added to the same indices as Altri SGPS until the settlement, which is expected on May 24, 2023, and after settlement, temporary distribution line will be removed from all FTSE Russell indices. The record date is set to be May 17, 2023.

The transaction is approved by the shareholder of Altri, SGPS at a meeting held on April 28, 2023. The payment of the deliberated distributions will be made, with Caixa - Banco de Investimento, S.A. as the paying agent.