| 31.12.2014 | 31.12.2013 | ||
|---|---|---|---|
| Share capital | 2,783,115 at a par value of CHF 1 | 2,783 | 2,783 |
| Participation capital | 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 | 58.30% | 58.30% | |
| Axpo Holding AG, Baden | 33.70% | 33.70% | |
| Other (free float) | 8.00% | 8.00% | |
Participation certificates carry no voting rights at the General Meeting but are subject to the same provisions as shares. The number of securities representing share and participation capital remained unchanged over the previous year.
In the 2013 financial year, Canton Graubünden 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 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 | ||
| Purchases | 1 | - | - | - |
| Disposals | -10,083 | 119 | -2,100 | 102 |
| Treasury shares exchange | -302 | 171 | - | - |
| Values at 31 December 2014 | - | - |
In the year under review 10,083 shares (previous year: 1,393) and 2,100 participation certificates (previous year: 2,007) were sold and 1 share (previous year: none) and no participation certificates (previous year: none) were acquired. Also in the 2014 financial year, Repower transferred treasury shares for the acquisition of minority interests in Repower Holding Surselva AG and Repower Klosters AG to the sellers of the shares partly by way of a compensation payment. The balances of this transaction are reported under the line item share transfer. At 31 December 2014, there were no shares (previous year: 10,384) and no participation certificates (previous year: 2,100) in Repower's treasury share portfolio.