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The Shareholders' Meeting of Safilo Group S.p.A. approves the financial statements as at December 31 2018


30/04/2019

Padova, April 30, 2019 – The Shareholders’ Meeting of Safilo Group S.p.A., held today in single call, has approved the Company’s 2018 financial statements and the Board of Directors’ report and, furthermore, viewed the consolidated financial statements.

The Ordinary Shareholders’ Meeting has also:

  • favourably resolved upon the first section of the remuneration report containing the Company's remuneration policy for the Board of Directors and the Managers with strategic responsibilities for the financial years 2019 and 2020 and the procedures used for the adoption and implementation of this policy;
  • approved the authorization to the purchase and disposal of treasury shares pursuant to Article 2357 and following Articles of the Italian Civil Code as well as to Article 132 of Legislative Decree 58/1998 and related implementing provisions, subject to revocation of the authorisation granted by the ordinary Shareholders’ meeting of April 24, 2018.

The new program calls for the purchase and disposal of treasury shares for up to 10,000,000 shares. Each purchase shall be executed on regulated markets or on multilateral trading facilities, at a price not lower than 10% and not higher than 5% of the reference price of Safilo Group shares on the Italian Stock Exchange organized and managed by Borsa Italiana S.p.A. (Mercato Telematico Azionario) of the trading day prior to the date of the purchase trade and, in any case, not higher than Euro 3,00 per share.

The purchase and disposal of treasury shares may be used: (i) to perform the obligations to deliver the Company’s shares arising from programs of distributions, against payment or for free, of options or shares of the Company to directors, employees and collaborators of the Company or the relevant subsidiaries, as well as arising from programs for free allocation of shares to the shareholders; (ii)  to perform the obligations to deliver the Company’s shares arising from convertible bonds or bonds cum warrants; and (iii) as a compensation in extraordinary transactions, including the exchange of shares, with other parties in the context of transactions in the interests of the Company.

Authorization to purchase shares has been granted for a period of 18 months, as from the shareholder resolution date; authorization to sell own shares has been granted for an unlimited period.

As of today, the Company has no treasury shares in portfolio;

  • approved the amendment of some terms and conditions of the Stock Option Plan 2017-2020, and in particular the deletion of the minimum exercise price of the options of the Plan equal to Euro 3.09 per share, the early closure of the Plan with reference to the fourth and last tranche and the amendment of the Ebit target conditioning the vesting of the options to be granted under the third tranche.

In the extraordinary session, the Shareholders’ meeting revoked the resolution of the extraordinary Shareholders’ Meeting of April 24, 2018 which had included a minimum issuance price of the shares to be issued in the context of the capital increase at the service of the 2017-2020 Stock Option Plan

All the documentation relating to the Shareholders’ meeting is available on the company’s internet website at www.safilogroup.com/en/investors.html.

About Safilo Group

Safilo Group is a worldwide leader in the design, manufacturing and distribution of sunglasses, optical frames, sports eyewear and products. Thanks to strong craftsmanship expertise dating back to 1878, Safilo translates its design projects into high-quality products created according to the Italian tradition. With an extensive wholly owned network of subsidiaries in 40 countries – in North and Latin America, Europe, Middle East and Africa, and Asia Pacific and China – and more than 50 distribution partners in key markets, Safilo is committed to quality distribution of its products in nearly 100,000 selected points of sale all over the world. Safilo’s portfolio encompasses: own core brands Carrera, Polaroid, Smith, Safilo, Oxydo, and licensed brands: Dior, Dior Homme, Fendi, Banana Republic, BOSS, Elie Saab, Fossil, Givenchy, havaianas, HUGO, Jimmy Choo, Juicy Couture, kate spade new york, Liz Claiborne, Love Moschino, Marc Jacobs, Max Mara, Max&Co., Moschino, Pierre Cardin, rag&bone, Rebecca Minkoff, Saks Fifth Avenue, Swatch, and Tommy Hilfiger.

Listed on the Italian Stock Exchange (ISIN code IT0004604762, Bloomberg SFL.IM, Reuters SFLG.MI), in 2018 Safilo recorded net revenues for Euro 962.9 million.

Contacts:

Safilo Group Investor Relations

Barbara Ferrante

Ph. +39 049 6985766

http://investors-en.safilogroup.com

Safilo Group Press Office

Antonella Leoni

Milan – Ph. +39 02 77807607

Padua – Ph. +39 049 6986021


Last update: 30/04/2019, 12:44


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