9. Appropriation of Result

In accordance with the resolution of the General Meeting of Shareholders held on 29 April 2016, the result for 2015 has been appropriated in conformity with the proposed appropriation of result stated in GrandVision's 2015 Annual Report.

The net result for 2016 amounts to €231,360 and €152,997 will be added to the retained earnings reserve.

For 2016, it is proposed to the General Meeting to distribute a total dividend of €78,363 or EUR 0.31 per share. If the proposal is approved by the General Meeting, the dividend will be payable as from 11 May 2017.

For 2015, the General Meeting of Shareholders approved a total dividend of €70,655 or EUR 0.28 per share on 29 April 2016. Subsequently, the final dividend of €35,327 or EUR 0.14 per share was paid on 11 May 2016, considering that an interim dividend of €35,327 or EUR 0.14 per share was declared by the Management Board on 4 September 2015 and paid on 8 September 2015.