Back To List

Back To List

7 Dec 2020

Capital Increase Reserved for Employees of French companies participants in the employee stock ownership plans

Charenton-le-Pont, France (December 7, 2020 – 6:00pm) – The purpose of this offer is to further involve the group’s employees in its development by allowing them to become shareholders of EssilorLuxottica.

At the Extraordinary General Meeting of June 25, 2020, 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 12).

The Board of Directors decided the principle to issue up to 360,000 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 90.524 per share, this being the average of the opening prices over the 20 trading days preceding November 24, 2020, to which a 20% discount has been applied.

The shares can be subscribed through the FCPE (Fonds Commun de Placement d’Entreprise) “GR ESSILORLUXOTTICA RELAIS 2020”. This FCPE has been valued since January 2, 2020, the start date of the subscription period for the employees of the group’s eligible French companies. The closing date of the subscription period is scheduled for December 11, 2020. The voting rights pertaining to such shares will be exercised by the employee shareholders individually holding FCPE units.

The new shares will carry dividend rights from January 1, 2020. The actual number of shares issued will be announced on December 21, 2020, after which EssilorLuxottica will apply for the new shares to be listed on Euronext Paris.