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17 Share capital

17 Share capital
    31.12.2011 31.12.2012
  CHF thousands      
         
  Share capital 2,783,115 at a par value of CHF 1 2,783 2,783
  Participation certificates 625,000 at a par value of CHF 1 625 625
  Share and participation capital   3,408 3,408
         
  Existing shareholders and their direct share of voting rights:    
  Canton of Graubünden 46.00% 46.00%
  Alpiq AG, Olten (ex: Alpiq Holding AG, Olten) 24.60% 24.60%
  Axpo Trading AG, Dietikon (formerly: Elektrizitäts-Gesellschaft Laufenburg AG, Laufenburg (EGL)) 21.40% 21.40%
  Other (free float) 8.00% 8.00%

Participation certificates carry no voting rights at the Annual General Meeting but are subject to the same provisions as shares. The number of share and participation certificates remained unchanged from the previous year.

Subject to official approval, Axpo and the Canton of Graubünden will temporarily each assume the shares (split equally) in Repower held by Alpiq in the first half of 2013 and then sell the acquired shares to a new strategic partner in the short- to medium term.

Treasury shares Number of shares Average price in CHF Number of participation certificates Average price in CHF
At 31 December 2010 12,156   4,107  
Purchases 60 462 - -
Disposals -60 501 - -
At 31 December 2011 12,156   4,107  
Purchases        
Disposals        
At 31 December 2012 12,156   4,107