16 Share capital

CONVERSION OF BEARER SHARES AND PARTICIPATION CERTIFICATES

In the first half of 2016 the existing bearer shares and participation certificates with a nominal value of CHF 1 were converted into 3,408,115 registered shares, also with a nominal value of CHF 1, on a one-for-one basis. Participation certificates carried no voting rights at the general meeting but were otherwise subject to the same provisions as shares.

INCREASE IN CAPITAL VIA RIGHTS ISSUE

The Repower extraordinary general meeting (EGM) held on 21 June 2016 resolved to increase the company’s capital by means of a rights issue to shareholders. The period for subscription to the new shares began on 24 June 2016 and lasted until 4 July 2016. Existing shareholders were allocated one subscription right per share held. Five subscription rights entitled the holder to subscribe to 7 new shares at a subscription price of CHF 43.00 per share. The two existing main shareholders, Canton Graubünden and Axpo Holding AG, waived their subscription rights in favour of Elektrizitätswerke des Kantons Zürich (EKZ) and UBS Clean Energy Infrastructure Switzerland KGK (UBS-CEIS); these rights were allotted to the two new shareholders. After the subscription period had closed, on 5 July 2016, and with an addendum dated 14 July 2016, the Board of Directors of Repower AG resolved to increase the company’s capital from CHF 3,408,115, divided into 3,408,115 fully paid-up registered shares each with a nominal value of CHF 1.00, by issuing 3,982,853 new fully paid-up registered shares each with a nominal value of CHF 1.00; the rights issue generated gross proceeds of TCHF 171,263. The share capital now comes to CHF 7,390,968.

The four shareholders with major interests are bound by a shareholders’ agreement.

TREASURY SHARES

On 31 December 2016, 382 treasury shares were held (previous year: 0).