World News: 17:30 GMT Tuesday 3rd December 2019. [EssilorLuxottica via Globe Newswire via SPi World News]
At the Extraordinary General Meeting on May 16, 2019, shareholders of EssilorLuxottica authorized the Board of Directors, within a 26-month period, to issue shares reserved for employees participating in an employee stock ownership plan, with new shares representing up to 0.5% of the total capital stock (Resolution 15).
The Board of Directors decided the principle to issue up to 350,000 common shares reserved for participants in the EssilorLuxottica Group’s employee stock ownership plans and delegated to the Executive Chairman and to the Executive Vice-Chairman the powers to implement the transaction. The subscription price has been set up at Euro 109.63 per share, this being the average of the opening prices over the 20 trading days preceding November 26, 2019, to which a 20% discount has been applied.
The shares can be subscribed through the FCPE () “GR ESSILOR RELAIS 2019”. This FCPE has been valued since February 28, 2019, the start date of the subscription period for the employees of the Company’s eligible French companies. The closing date of the subscription period is scheduled for December 13, 2019. The voting rights pertaining to such shares will be exercised (i) by the supervisory board of the FCPE on behalf of the employee shareholders holding FCPE units locked up for a period of five years or (ii) by the employee shareholders individually holding FCPE units locked up for seven years, except in case of early exit events.
The new shares will carry dividend rights from January 1, 2019. The actual number of shares issued will be announced on December 20, 2019, after which EssilorLuxottica will apply for the new shares to be listed on Euronext Paris.
Globe Newswire: 17:30 GMT Tuesday 3rd December 2019
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