This excerpt taken from the LUX 6-K filed Apr 28, 2006.
Proposed dividend for fiscal year 2005 and other Board resolutions
The Board of Directors today also scheduled the Companys Ordinary and Extraordinary Shareholders Meetings for June 14, 2006, on first call, and for June 15, 2006, on second call.
At the Ordinary Meeting, the Board of Directors has approved Luxottica Groups International Financial Reporting Standards (IFRS) financial statements for fiscal year 2005(4) and will propose to shareholders a 26 percent increase in the cash dividend to be paid for fiscal year 2005 to 0.29 per ordinary share and per American Depositary Share (ADS) (one ADS represents one ordinary share). For fiscal year 2004, shareholders approved the payment of a cash dividend of 0.23 per ordinary shares and ADS.
The proposed cash dividend will be paid to holders of record of ordinary shares as of June 16, and to holders of record of ADRs as of June 21. The ex-dividend date for both holders of ordinary shares and ADRs will be June 19, 2006. Luxottica Group will make the dividend payable in Euro to holders of ordinary shares on June 22, 2006. Deutsche Bank Trust Company Americas, the depositary of Luxottica Groups ordinary shares represented by ADRs, will make the dividend payable in U.S. Dollars to ADR holders on June 29, 2006, at the Euro/U.S. Dollar exchange rate of June 22, 2006. Information regarding the tax regime applicable to the payment of Luxottica Group dividends will shortly be available from the Groups corporate website at www.luxottica.com.
At the Meeting, the Board of Directors will submit to shareholders for approval the increase of the maximum number of directors to 15, from the current 12 to allow for the appointment of Claudio Costamagna, formerly chairman of the investment banking division of Goldman Sachs for Europe, Middle East and Africa (EMEA), and Roger Abravanel, director of the Italian practice of consulting firm McKinsey & Co., increasing the number of independent directors of the Board to 6.
At the Ordinary Meeting, the Board of Directors will submit to shareholders for approval, in accordance with Italian law, the Groups IFRS statutory financial statements for fiscal year 2005. Luxottica Groups communications to the financial community are and will continue to be made
in accordance with US GAAP. Luxottica Group consolidated U.S. GAAP results for fiscal year 2005 were announced on January 31, 2006.