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 2013

12,685,906

254

23,185

23,439

Issue of ordinary shares

16,893

-

2,250

2,250

Conversion of shares

-

-

2,086

2,086

At 31 December 2013

12,702,799

254

27,521

27,775

Issue of ordinary shares

19,388

-

3,000

3,000

Long-term incentive plan

-

-

29,741

29,741

Capital contribution

-

-

1,019

1,019

At 31 December 2014

12,722,187

254

61,281

61,535

The Company’s authorized share capital as of 31 December 2014 comprised of 62,499,900 ordinary shares with a nominal value of 0.02 EUR each and 1 priority share with a nominal value of 2.00 EUR. The total authorized share capital amounted to €1,250. All issued shares have been paid up in full. The Company’s paid-up capital comprised 12,722,187 (2013: 12,702,799) ordinary shares and 1 (2013: 1) priority share as of 31 December 2014. The issued and outstanding ordinary shares were 98.57% held by HAL Optical Investments B.V. (2013: 98.67%) and the remainder by the Management Board and certain members of senior management of the Company.

The shares issued in 2014 and 2013 were issued under the long-term incentive plan for an average price of 190.65 EUR (2013: 135.05 EUR) per share. The capital contribution of €1,019 (2013: €2,086) was made by HAL Optical Investments B.V. for the repurchase of the shares under the long-term incentive plan. For the 2014 addition of €29,741 to share premium please refer to note 28.

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. As a result the issued share capital currently amounts to 254,443,840 ordinary shares.