EssilorLuxottica announces launch of share buyback program
Charenton-le-Pont, France (17 June 2022 - 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 2,500,000 EssilorLuxottica shares, depending on market conditions, over a period starting from today, 17 June 2022, up until 31 August 2022 included.
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 plans.
EssilorLuxottica launches this share buyback program in accordance to the 14th resolution approved by the Annual General Meeting of 25 May 2022, 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 Euro 200.
A description of this share buyback program is available as an appendix to this press release as well as here.