18 shareholders’ Equity

 

31.12.2017

31.12.2016

CHF thousand

 

 

 

 

 

Shareholders’ equity

737,163

711,814

 

 

 

Share capital

7,391

7,391

Share capital 1) 7,390,968 registered shares at a par value of CHF 1 per share

7,391

7,391

 

 

 

Reserves

663,433

664,534

Legal capital reserves

 

 

Capital reserves 1) 2)

184,335

185,442

Legal reserve from retained earnings

17,123

17,123

Other reserves 3)

461,975

461,969

 

 

 

Retained earnings

66,354

39,910

Retained earnings carried forward

41,018

36,631

Net income for the year

25,336

3,279

 

 

 

Treasury shares

–15

–21

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 2017 the share capital consisted of 7,390,968 registered shares, each with a nominal value of CHF 1.00.

2) In a letter dated 12 June 2017 the Federal Tax Administration (FTA) confirmed the amount of TCHF 184,335 for the capital reserves. Part of the transaction costs of TCHF 1,107, related to the rights issue held in 2016, has been transferred to retained earnings carried forward.

3) In the year under review the increase of TCHF 6 in other reserves is attributable to gains and losses from the sale of treasury shares. The previous year the general meeting of shareholders of 12 May 2016 approved a transfer of TCHF 100,000 from other reserves to retained earnings.

Share capital

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

 

31.12.2017

31.12.2016

 

 

 

Elektrizitätswerke des Kantons Zürich (EKZ)

29.83%

28.32%

Canton Graubünden

21.96%

21.96%

UBS Clean Energy Infrastructure KGK (UBS-CEIS)

18.88%

18.88%

Axpo Holding AG, Baden

12.69%

12.69%

Treasury shares

 

2017

2016

 

Number of shares

Carrying value in CHF

Number of shares

Carrying value in CHF

 

 

 

 

 

Initial balance at 1 January

382

20,714

Purchases

2,637

152,507

3,442

167,750

Disposals

–2,763

–157,856

–3,060

–147,037

End balance at 31 December

256

15,365

382

20,714

In the year under review Repower AG bought 2,637 shares at an average price of CHF 57.83 and sold 2,763 shares at an average price of CHF 57.13.

The prior year 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.