EssilorLuxottica : EssilorLuxottica announces launch of share buyback programSource: OMX
EssilorLuxottica announces launch of share buyback program
Charenton-le-Pont, France (31 August 2021, 7:00 am) – EssilorLuxottica announces the launch of a share buyback program reflecting the Group’s confidence in its value creation and long-term prospects.
With a view to implementing this share buyback program, EssilorLuxottica has granted a mandate to an investment services provider for the purchase of up to 2,000,000 EssilorLuxottica shares, depending on market conditions, over a period starting from today, 31 August 2021, up until 29 October 2021.
The shares so acquired are intended to be awarded or transferred to employees and corporate directors of EssilorLuxottica and affiliated companies, especially in the context of profit-sharing plans, bonus and performance share awards, stock option plans, and employee share ownership plan.
EssilorLuxottica launches this share buyback program in accordance to the 10th resolution approved by the Annual General Meeting of May 21, 2021, during which the Company was granted the right to purchase its own shares during the 18 months that followed the Annual General Meeting, for an amount representing up to 10% of its share capital and for a price per share not exceeding 200 euros.
EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux and Transitions, and world-class retail brands including Sunglass Hut and LensCrafters as well as – since 1 July 2021 via a 76.72% interest – GrandVision network are part of the EssilorLuxottica family. In 2020, EssilorLuxottica had over 140,000 employees and consolidated revenues of Euro 14.4 billion. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.