Common Shares

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Common Shares

Common shares

We manage our capital to ensure that entities in the Company will be able to continue as a going concern while maximizing the return to stakeholders through the optimization of the debt and equity balance.

Our capital structure consists of financial liabilities (as detailed in Note 14 offset by cash and bank balances) and equity (comprising issued capital, reserves, retained earnings and non-controlling interests).

We are not subject to any externally imposed capital requirements.

Issued Capital

As of December 31, 2016, the Parent’s share capital was composed of 63,978,204 ordinary shares, each with a nominal value of €0.025, i.e. a total amount of €1.6 million, or $2.1 million.

Change in Number of Shares

	Number of ordinary shares
Balance at January 1, 2015	60,902,695
Issuance of shares under share option and free share plans (1)	1,568,186
Balance at December 31, 2015	62,470,881
Issuance of shares under share option and free share plans (2)	1,507,323
Balance at December 31, 2016	63,978,204

⁽¹⁾ Adopted by the Board of Directors on January 29, 2015, March 19, 2015, April 30, 2015, July 30, 2015, October 29, 2015 and December 17, 2015.

⁽²⁾ Adopted by the Board of Directors on January 29, 2016, February 25, 2016, April 20, 2016, June 28, 2016, July 28, 2016, October 27, 2016 and November 9, 2016.