| 31.12.2014 | 31.12.2013 | |
|---|---|---|
| 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 |
| Capital reserves 1) | 19,871 | 26,674 |
| Other legal reserves | 17,123 | 17,123 |
| Other reserves | 541,961 | 498,294 |
| Reserves | 578,955 | 545,758 |
| Retained earnings carried forward | 38,218 | 11,647 |
| Net income for the year | 17,384 | 66,571 |
| Retained earnings | 55,602 | 78,218 |
| Equity | 637,965 | 627,384 |
1) No dividend was paid on the 6,605 shares and 275 participation certificates held by Repower AG on the payout date (21 May 2014), thus increasing the capital reserves carried forward by CHF 13,760.
Share capital
Significant shareholders as defined by the Swiss Code of Obligations (OR) 663c (share of capital and voting rights):
| 31.12.2014 | 31.12.2014 | |
|---|---|---|
| Canton of Graubünden | 58.30% | 58.30% |
| Axpo Holding AG, Baden | 33.70% | 33.70% |
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 reporting year, 19 registered shares of Repower Holding Surselva AG were exchanged for 279 bearer shares, and 10 registered shares of Repower Klosters AG were exchanged for 23 bearer shares. A total of 302 bearer shares were thus exchanged.