18 Shareholders' equity

 

31.12.2016

31.12.2015

CHF thousands

 

 

 

 

 

Share capital 1) 7'390'968 registered shares at a par value of 1 CHF per share (previous year: 2'783'115 shares at a par value of 1 CHF per share

7,391

2,783

Participation capital (previous year: 625,000 participation certificates at a par value of 1 CHF per share)

-

625

Share capital

7,391

3,408

 

 

 

Legal capital reserves

 

 

Capital reserves 1)

185,442

19,871

Retained earnings

17,123

17,123

Other reserves 2)

461,969

561,961

Reserves

664,534

598,955

 

 

 

Retained earnings carried forward

36,631

35,602

Net income for the year

3,279

–98,978

Retained earnings

39,910

–63,376

 

 

 

Treasury shares

–21

-

 

 

 

Equity

711,814

538,987

1) On 5 July 2016, and with an addendum dated 14 July 2016, a rights issue was held to increase the company’s capital by TCHF 171,263 (nominal value TCHF 3,983, capital reserves TCHF 165,571). Transaction costs of TCHF 1,709 arising in connection with the rights issue were deducted from the premium. The existing bearer shares and participation certificates were converted into unified registered shares. On 31 December 2016 the share capital consisted of 7,390,968 registered shares, each with a nominal value of CHF 1.00.

2) At the general meeting of shareholders on 12 May 2016 a transfer of TCHF 100,000 from other reserves to balance sheet profit/loss was approved.

Share capital

Significant shareholders as defined by the Swiss Code of Obligations (OR) 663c (share of capital and voting rights):

 

31.12.2016

31.12.2015

 

 

 

Elektrizitätswerke des Kantons Zürich (EKZ)

28.32%

 

Canton of Graubünden

21.96%

58.30%

UBS Clean Energy Infrastructure KGK (UBS-CEIS)

18.88%

 

Axpo Holding AG, Baden

12.69%

33.70%

TREASURY SHARES

 

2016

2015

 

Number of shares

Carrying value in CHF

Number of shares

Carrying value in CHF

 

 

 

 

 

Initial balance at 1 January

-

-

-

-

Purchases

3,442.00

167,750.40

-

-

Disposals

–3,060.00

–147,036.90

-

-

Ending balance at 31 December

382.00

20,713.50

-

-

In the year under review Repower AG bought 3,442 shares at an average price of CHF 48.74 and sold 3,060 shares at an average price of CHF 50.48.

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