Corporate Governance

Capital structure

The share capital of Repower AG (information on the share capital is given on pages 5 and 81 of the Annual Report) consists of 2,783,115 bearer shares (Swiss securities no. 1640583) and 625,000 participation certificates (Swiss securities no. 1640584), each with a par value of CHF 1. Each bearer share entitles the holder to one vote at the Annual General Meeting. The shares and participation certificates have a dividend entitlement of equal value. There are no preferential rights or restrictions on voting rights. No authorised or conditional capital exists. Repower AG has no outstanding dividend right certificates). Repower AG has issued no convertible bonds, options or other securities that entitle the holders to shares or participation certificates in Repower AG. Based on the stock exchange prices for shares and participation certificates, the company had a market capitalisation of CHF 188 million at the end of 2015.