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.