22. Share Capital

Number of shares outstanding

Ordinary shares (in thousands of EUR)

Share premium (in thousands of EUR)

Total (in thousands of EUR)

At 1 January 2015

12,722,187

254

61,281

61,535

Issue of ordinary shares

241,721,653

-

-

-

Share-based payments

441,139

-

41,354

41,354

Purchase of treasury shares

- 2,547,000

-

- 51,074

- 51,074

At 31 December 2015

252,337,979

254

51,561

51,815

At 1 January 2016

252,337,979

254

51,561

51,815

Issue of ordinary shares

-

4,835

- 4,835

-

Share-based payments

546,629

-

8,736

8,736

Purchase of treasury shares

- 100,000

-

- 2,411

- 2,411

At 31 December 2016

252,784,608

5,089

53,051

58,140

In 2016, the share-based payment plan movements within share capital of €8,736 relate to the periodic expenses and settlements of the plans (2015: €13,076). In 2015 the share-based payment plan movements also related to the conversion of cash-settled phantom plans into equity-settled long-term incentive plans in the IPO for €28,278. Refer to note 30 for more details.

During 2016 GrandVision purchased 100,000 shares to be held in treasury related to the share-based payment plans for a total amount of €2,411 and provided 546,629 shares following the vesting in 2016 (2015: 441,139 shares). The number of shares held in treasury at 31 December 2016 were 1,659,232 (2015: 2,105,861). At settlement of the IPO, on 10 February 2015, GrandVision purchased 0.98% of the shares, for a total amount of €50,000, to be held in treasury in order to hedge the price risk of grants made under share-based payment plans.

On 20 January 2015 the Group issued 241,721,553 ordinary shares and on 5 February 2015 the priority share was converted in 100 ordinary shares without an impact on the value of GrandVision.