Luxottica: Final Update on the Share Buyback Program Approved at the Shareholders' Meeting on May 13, 2008
November 13 2009 - 12:50PM
PR Newswire (US)
The share buyback program approved at the Shareholders' Meeting on
October 29, 2009 is launched MILAN, Nov. 13 /PRNewswire-FirstCall/
-- In accordance with article 144-bis, paragraph 4, of the
Regulations for Issuers released by Consob under Resolution no.
11971/99, Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX) announced
today that the share buyback program approved at the Shareholders'
Meeting on May 13, 2008 expired today. The 2008 program provided
for the buyback of a maximum of 18,500,000 ordinary shares in the
Company for a period of 18 months. Under the 2008 program, launched
on September 21, 2009, Luxottica Group S.p.A. purchased an
aggregate amount of 1,325,916 treasury shares, on the Milan Stock
Exchange's Mercato Telematico Azionario (MTA) at an average unit
price of Euro 17.13, for an aggregate amount of Euro 22,714,251. In
parallel, Luxottica Group's subsidiary Arnette Optics Illusions
Inc. sold during the same period on the MTA an aggregate amount of
1,177,517 treasury shares, at an average unit price of Euro 17.34,
for an aggregate amount of Euro 20,412,346. Luxottica Group S.p.A.
also announced today the launch on November 16, 2009, of the new
share buyback program approved at the Shareholders' Meeting on
October 29, 2009, which, like the 2008 program, is intended to
provide the Company with treasury shares to efficiently manage its
share capital and to implement its Performance Shares Plan. The
2009 program provides for the buyback of a maximum of 18,500,000
ordinary shares in the Company, currently representing 3.99% of the
share capital, for a maximum aggregate amount of Euro 370,000,000,
for a period of 18 months. In parallel with the purchases of shares
by the Company, Arnette Optics Illusions Inc. will sell on the MTA
the 5,257,269 Luxottica Group's treasury shares it still owns. As a
result, Luxottica Group will have direct control of a number of
shares equal to those currently indirectly controlled through its
subsidiary. The transactions will be substantially neutral from an
economic and financial standpoint. DATASOURCE: Luxottica Group
S.p.A. CONTACT: Ivan Dompe, Group Director of Corporate
Communications, +39-02-8633-4726, , Luca Biondolillo, SVP of
International Corporate Communications, +1-516-918-3100, , or
Alessandra Senici, Group Director of Investor Relations,
+39-02-8633-4069, , all of Luxottica Group S.p.A. Web Site:
http://www.luxottica.com/
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