CHARENTON-LE-PONT, France, November 22 /PRNewswire-FirstCall/ -- At the Extraordinary Shareholders’ Meeting of May 13, 2005, Essilor International’s Board of Directors was given a 26-month authorization to issue shares to members of Essilor employee stock ownership plans (22nd resolution). The maximum number of common shares authorized for issuance was set at 2,567,097, representing no more than 3% of capital stock.
At its meeting on November 22, 2006, the Board of Directors decided to use this authorization to issue up to 300,000 common shares for subscription by members of the Essilor, BBGR and Novisia employee stock ownership plans.
The new shares will carry rights as from January 1, 2006. They will be offered at a price of EUR66.34 per share, corresponding to the average of the opening prices quoted over the last twenty trading days preceding the Board’s November 22 decision to issue the shares, less a 20% discount.
Employees may purchase the shares through two funds. These funds have been given a specific value since July 11, 2006, the start date of the subscription period. The closing date of the subscription period is December 12, 2006.
The actual number of shares issued will be announced on December 21, 2006 and the Group will then apply for the new shares (par value: EUR0.35) to be listed on Eurolist by Euronext(TM).
Essilor International is the world leader in ophthalmic optical products, offering a wide range of lenses under the flagship Varilux(R), Crizal(R), Airwear(R) and Essilor(R) brands to correct myopia, hyperopia, presbyopia and astigmatism. Essilor operates worldwide through 16 production sites, 215 lens finishing laboratories and local distribution networks.
The Essilor share trades on the Euronext Paris market and is included in the CAC 40 index.
Codes and symbols: ISIN: FR 0000121667; Reuters: ESSI.PA; Bloomberg: EF FP.
Contact: Investor Relations and Financial Communications Catherine Gallimard Phone: +33-(0)1-49-77-42-16 Web site: www.essilor.com
Essilor
CONTACT: Contact: Investor Relations and Financial Communications,Catherine Gallimard, Phone: +33-(0)1-49-77-42-16, Web site: www.essilor.com
