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This excerpt taken from the LUX 6-K filed Jun 26, 2009. 10. SUBSEQUENT EVENTS In May 2009, the Company and Multiopticas Internacional S.L. ("MISL"), entered into an agreement pursuant to which the Company will acquire a 40 percent participation in MISL. MISL currently owns over 390 eyewear stores operating under the GMO, Econoptics and SunPlanet retail brands in Chile, Peru, Ecuador and Colombia. The transaction is expected to close around the end of June 2009. Please see "Recent Developments" for further information. In May 2009, the Board of Directors authorized the reassignment of new options to employees who are currently beneficiaries of the stock option grants granted in 2006 and 2007 whose exercise price, considering present market conditions and the financial crisis, was significantly higher than the present market price and, therefore, undermining the performance incentives that typically form the foundation of these plans. The Board of Directors therefore approved the grant of new options to the beneficiaries of the abovementioned stock option grants, which will be exercisable upon vesting, at an exercise price that was determined pursuant to the provisions of the 2001 and 2006 Stock Option Plans. 13 This excerpt taken from the LUX 20-F filed Jun 25, 2009. 17. SUBSEQUENT EVENTS
On January 28, 2009, the Company entered a new licensing agreement to design, manufacture and globally distribute sun and prescription eyewear collection by Tory Burch and TT, two emerging American fashion and lifestyle brands. The agreement with Tory Burch LLC will run for six years - renewable for a further four — with an expected launch of the first collection in 2009.
The new collections will be distributed not only by Tory Burch boutiques and premium American department stores but also in select independent optical stores and in Luxottica’s retail chains. After North America, distribution will be extended to Europe and the rest of the world.
Tory Burch, a highly appreciated brand in the affordable luxury segment, completes Luxottica’s brand portfolio by further strengthening its positioning in the key North American market and in the continually expanding department store channel.
On January 30, 2009, Luxottica Group and Salvatore Ferragamo Italia S.p.A., which controls Gruppo Ferragamo, agreed to a three-year extension of their licensing agreement covering design, manufacturing and global distribution of prescription and sun eyewear under the Salvatore Ferragamo label. The new agreement runs until December 2011, with an option on a two-year renewal under the same terms.
On April 9, 2009 Luxottica Group and Donna Karan International Inc., agreed a five-year extension of the license agreement for the design, production and worldwide distribution of prescription frames and sunglasses under the Donna Karan and DKNY brands. The new agreement runs through December 2014, with an option for a further five-year extension.
Following the PSP plan adopted in 2008, on May 7, 2009, the Board of Directors granted its top employees 1,435,600 rights to receive ordinary shares. On the same day Board of Directors authorized the reassignment of new options to employees who are currently beneficiaries of the stock option grants approved in 2006 and 2007 whose exercise price, considering present market conditions and the financial crisis, is significantly higher than the present market price and, therefore, undermine the performance incentives that typically form the foundation of these plans. The Board of Directors therefore approved the grant of new options to the beneficiaries of the abovementioned stock option grants, which will be exercisable — conditional upon the withdrawal of the options granted in 2006 and/or 2007 — at an exercise price that will be determined pursuant to the provisions of the 2001 and 2006 Stock Option Plans and, therefore, consistent with the market values of Luxottica shares on the date of grant of the new options.
On May 27, 2009 Luxottica Group and Multiopticas Internacional S.L., a company that currently owns over 390 eyewear stores operating under the GMO, Econoptics and SunPlanet retail brands in Chile, Peru, Ecuador and Colombia, entered into an agreement pursuant to which Luxottica will acquire a 40 percent participation in Multiopticas Internacional. Under the terms of the agreement, which is expected to close around the end of June, Luxottica will have a call option for the remaining 60 percent of Multiopticas Internacional. The call option will be exercisable by the Group between 2012 and 2014 at a price to be determined on the basis of Multiopticas’ sales and EBITDA values at the time of the exercise.
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F-56 This excerpt taken from the LUX 6-K filed May 12, 2009. 17. SUBSEQUENT EVENTS
On January 28, 2009, the Company entered a new licensing agreement to design, manufacture and globally distribute sun and prescription eyewear collection by Tory Burch and TT, two emerging American fashion and lifestyle brands. The agreement with Tory Burch LLC will run for six years - renewable for a further four - with an expected launch of the first collection in 2009.
The new collections will be distributed not only by Tory Burch boutiques and premium American department stores but also in select independent optical stores and in Luxottica’s retail chains. After North America, distribution will be extended to Europe and the rest of the world.
Tory Burch, a highly appreciated brand in the affordable luxury segment, completes Luxottica’s brand portfolio by further strengthening its positioning in the key North American market and in the continually expanding department store channel.
On January 30, 2009, Luxottica Group and Salvatore Ferragamo Italia S.p.A., which controls Gruppo Ferragamo, agreed to a three-year extension of their licensing agreement covering design, manufacturing and global distribution of prescription and sun eyewear under the Salvatore Ferragamo label. The new agreement runs through December 2011, with an option on a two-year renewal under the same terms.
On April 10, 2009, Luxottica Group and Donna Karan International Inc. agreed a five-year extension of the license agreement for the design, production and worldwide distribution of prescription frames and sunglasses under the Donna Karan and DKNY brands. The new agreement runs through December 2014, with an option for a further five-year extension.
This excerpt taken from the LUX 20-F filed Jun 26, 2008. 16. SUBSEQUENT EVENTS
On January 31, 2008, the Company announced the signing of the renewal of the partnership agreement for eyewear collections under the CHANEL brand.
In February 2008, the Company exercised an option included in the amendment to the term and revolving credit facility disclosed in Note 8 (d) to extend the maturity date of Tranches B and C to March 2013.
On April 17, 2008, the Company announced the signing of a new long-term exclusive license agreement with Stella McCartney Limited, a joint venture between Ms. Stella McCartney and Gucci Group N.V., for the design, production and worldwide distribution of sunglasses under the luxury lifestyle brand Stella McCartney. The agreement, which will begin on January 1, 2009, is for an initial term of six years, automatically renewable for an additional five-year term. The first collection will be launched in the summer of 2009.
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This excerpt taken from the LUX 6-K filed Jun 4, 2008. 16. SUBSEQUENT EVENTS
On January 31, 2008, the Company announced the signing of the renewal of the partnership agreement for eyewear collections under the CHANEL brand.
In February 2008, the Company exercised an option included in the amendment to the term and revolving credit facility disclosed in Note 8 (d) to extend the maturity date of Tranches B and C to March 2013.
On April 17, 2008, the Company announced the signing of a new long-term exclusive license agreement with Stella McCartney Limited, a joint venture between Ms. Stella McCartney and Gucci Group N.V., for the design, production and worldwide distribution of sunglasses under the luxury lifestyle brand Stella McCartney. The agreement, which will begin on January 1, 2009, is for an initial term of six years, automatically renewable for an additional five-year term. The first collection will be launched in the summer of 2009.
This excerpt taken from the LUX 6-K filed Dec 21, 2007. 10. SUBSEQUENT EVENTS On November 14, 2007, the Company completed the merger with Oakley, Inc. ("Oakley"), for a total purchase price of approximately U.S. $2.1 billion. The Company borrowed substantially the entire purchase price under two new credit facilities entered into specifically to finance such transaction. 11 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2007 The following discussion should be read in conjunction with the disclosure contained in our Annual Report on Form 20-F for the year ended December 31, 2006, which contains, among other things, a discussion of the risks and uncertainties that could affect our future operating results or financial condition, as well as our significant accounting policies. This excerpt taken from the LUX 20-F filed Jun 29, 2007. 16. SUBSEQUENT EVENTS In February 2007, the Company exercised an option included in the amendment to the term and revolving credit facility disclosed in Note 8 (d) to extend the maturity date of Tranches B and C to March 2012. * * * * * F-53 This excerpt taken from the LUX 6-K filed May 25, 2007. 16. SUBSEQUENT EVENTSIn February 2007, the Company exercised an option included in the amendment to the term and revolving credit facility disclosed in Note 8 (d) to extend the maturity date of Tranches B and C to March 2012.
This excerpt taken from the LUX 20-F filed Jun 28, 2006. 15. SUBSEQUENT EVENTS On February 27, 2006, the Company announced a ten-year license agreement with Polo Ralph Lauren Corp. for the design, production and worldwide distribution of prescription frames and sunglasses under the Polo Ralph Lauren name. The agreement will begin on January 1, 2007. Terms include an advance payment of royalties of Euro 169 million (US Dollar 199 million) that will mature over the ten-year term of the agreement. On March 10, 2006, the Company signed an amendment to the term and revolving credit facility disclosed in Note 8 (d). The amended and restated agreement reduces the interest margin as defined in the agreement, extends the termination date of the agreement to five years from the date the amendment was signed and increases the borrowing capacity of Tranche C to Euro 725 million. * * * * *
136
This excerpt taken from the LUX 20-F filed Jun 29, 2005. 15. SUBSEQUENT EVENTS
On January 4, 2005, Cole, a wholly owned subsidiary of the Company, completed the sale of all its shares in PE, representing approximately 21 percent of that company’s outstanding shares, to HAL Investments B.V., a subsidiary of HAL Holding N.V., for a cash purchase price of Euro 144 million (or approximately US Dollar 191 million calculated at the January 4, 2005 noon buying rate).
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On February 7, 2005, the offer for all the unowned remaining outstanding shares of OPSM Group was closed and the Company held 98.5 percent of OPSM Group’s shares, which is in excess of the compulsory acquisition threshold. On February 8, 2005, the Company announced the start of the compulsory acquisition process for all remaining shares in OPSM Group not already owned by the Company.
On February 15, 2005, the Australian Stock Exchange suspended trading in OPSM Group shares and on February 21, 2005 it delisted OPSM Group shares from the Australian Stock Exchange. The compulsory acquisition process was completed on March 23, 2005 and as of that date the Company held 100.0 percent of OPSM Group’s shares.
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