16 Share capital

16 Share capital
    31.12.2015 31.12.2014
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 Graub√ľnden 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.

Treasury shares

  Number of shares Average price in CHF Number of participation certificates Average price in CHF
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 -   -  

There were no transactions in treasury shares during the year under review. On 31 December 2015 Repower did not hold any of its own shares or participation certificates.

The previous year 10,083 bearer shares and 2,100 participation certificates were sold and one bearer share acquired. Also in the previous year, Repower transferred treasury shares for the acquisition of non-controlling 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.