12. Contingencies

The Company is liable, as intended in Article 403, Book 2, of the Dutch Civil Code for:

List of subsidiaries

Brilmij Groep B.V.

GrandVision Turkey B.V.

Central Vision II B.V.

HAL Investments Asia B.V.

GrandVision Baltics B.V.

Optical Retail Group B.V.

GrandVision Benelux B.V.

The Vision Factory B.V.

GrandVision Finance B.V.

Vision Express Middle East B.V.

GrandVision Group Holding B.V.

GrandVision Argentina & Uruguay B.V.

GrandVision India B.V.

GrandVision Brazil B.V.

GrandVision IT Services B.V.

GrandVision Chile B.V.

GrandVision Italy B.V.

GrandVision Colombia B.V.

GrandVision Portugal B.V.

GrandVision Latam B.V.

GrandVision Retail Holding B.V.

GrandVision Mexico B.V.

GrandVision Supply Chain B.V.

GrandVision Peru B.V.

The Company forms an income tax group with GrandVision Group Holding BV, Central Vision II BV, GrandVision IT Services BV, GrandVision Supply Chain BV, GrandVision Finance BV, GrandVision Turkey BV, HAL Investments Asia BV, GrandVision Retail Holding BV, GrandVision Latam BV, GrandVision Brazil BV, GrandVision Chile BV, GrandVision Argentina & Uruguay BV, GrandVision Colombia BV, GrandVision Peru BV, GrandVision Mexico BV, GrandVision India BV, Vision Express Middle East BV, GrandVision Italy BV, GrandVision Portugal BV, GrandVision Benelux BV, The Vision Factory BV, Brilmij Groep BV and Optical Retail Group BV. Under the standard conditions, the members are liable for income taxes payable by the income tax group.

For bank guarantee facilities refer to note 26 of the consolidated financial statements.

Schiphol, 17 February 2017

Management Board

Th. A. Kiesselbach, CEO
P.J. de Castro Fernandes, CFO

Supervisory Board

C.J. van der Graaf (Chairman)
M.F. Groot (Vice-Chairman)
P. Bolliger  
J.A. Cole  
W. Eelman