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7 Equity

7 Equity
  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 Graub√ľnden 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.