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7 Equity

7 Equity
  31.12.2013 31.12.2012
     
Share capital 2,783,115 shares at a par value of 1 CHF per share 2,783 2,783
Participation capital 625,000 participation certificates at a par value of 1 CHF per share 625 625
     
Share capital 3,408 3,408
     
Reserves for treasury shares 3,667 4,688
Capital reserves 26,674 35,153
Other legal reserves 17,123 17,123
Other reserves 498,294 477,273
     
Reserves 545,758 534,237
     
Retained earnings carried forward 11,647 10,541
Net income for the year 66,571 21,107
Retained earnings 78,218 31,648
     
Equity 627,384 569,293

Share capital

Significant shareholders as defined by the Swiss Code of Obligations (OR) 663 c (share of capital and voting rights):

  31.12.2013 31.12.2012
     
Canton of Graub√ľnden 58.30% 46.00%
Alpiq AG, Olten 0.00% 24.60%
Axpo Holding AG, Baden 33.70% 0.00%
Axpo Trading AG, Dietikon 0.00% 21.40%

In the 2013 financial year, the Canton of Graub√ľnden and Axpo Trading AG each acquired half of the shares held by Alpiq AG. Axpo Trading AG transferred its shares in Repower AG to Axpo Holding AG.

Treasury shares

  Number of shares Average price in CHF Number of participation certificates Average price in CHF
         
Values at 31 December 2011 12,156   4,107  
Purchases - - - -
Disposals - - - -
Values at 31 December 2012 12,156   4,107  
         
Purchases - - - -
Disposals -1,393 164 -2,007 109
Treasury shares exchange -379 171 - -
Values at 31 December 2013 10,384   2,100  

In the reporting year, 9 registered shares of Repower Holding Surselva AG were exchanged for 146 shares, and 100 registered shares of Repower Klosters AG were exchanged for 233 shares. A total of 379 shares were thus exchanged.