Proposed appropriation of result

The net result for 2016, amounting to €46.8 million, has been accounted for in shareholders’ equity.

The Company proposes to declare a dividend over the financial year 2016 of 9 euro cents in cash per ordinary share or in shares, at the option of the shareholders. Based on the number of ordinary shares outstanding at year-end 2016, a maximum of €24.3 million will be distributed as dividend on the ordinary shares. As yet, the dividend proposal has not been deducted from retained earnings under equity.