Vision Expo Presents “7 Days of Giveaways”

Alexandria, VA – Dec. 4, 2018 – Vision Expo has announced the first-ever “7 Days of Giveaways” holiday contest. In collaboration with various merchandise and exhibiting companies, Vision Expo will reveal a new giveaway item on Instagram for seven days beginning on Dec. 5.
The week of giveaways will feature frames, as well as eye-related and eye-inspired items available for participants to win. To enter the contest, individuals must follow both the participating company and Vision Expo on Instagram then post a comment on the image based on the rules for the day. Winners will be announced by 10 a.m. EST the following day.

EssilorLuxottica held first combined Shareholders’ Meeting

Charenton-Le-Pont (November 29, 2018 – 8:00 pm) EssilorLuxottica held its first Combined General Meeting today at the Espace Grande Arche at La Défense, chaired by Leonardo Del Vecchio, Executive Chairman, and Hubert Sagnières, Executive Vice-Chairman, of EssilorLuxottica. EssilorLuxottica shareholders approved today the proposals submitted by the board (and published in compliance with the provisions of law) regarding the ten resolutions listed below:

Ordinary meeting
1. Approval of the compensation policy applicable to the Executive Corporate Officers
2. Increase of the Directors’ fees
3. Ratification of the co-optation of Ms. Sabrina Pucci as Director in replacement of Ms. Rafaella Mazzoli
4. Board authorisation to proceed with the purchase of the Company’s own ordinary shares
Extraordinary meeting
5. Authorisation to be granted to the Board of Directors to reduce the share capital by cancelling Company shares
6. Delegation of authority granted to the Board of Directors for the purposes of deciding a capital increase reserved for members of a Company Savings Plan (French plans d’épargne d’entreprise or “PEE”), without preferential subscription rights (ceiling of 0.5% of the share capital)
7. Authorisation to be granted to the Board of Directors to proceed with the award of free existing shares (also called performance shares)
8. Authorisation to be granted to the Board of Directors to grant stock-options giving right to purchase existing shares subject to performance conditions
9. Authorisation to be granted to the Board of Directors to proceed with the award of free existing shares to certain Luxottica group employees, replacing cash retention bonuses previously promised to them by Luxottica
10. Powers to carry out formalities

Leonardo Del Vecchio, Executive Chairman of EssilorLuxottica quote: “I was honored today to open the first Shareholders’ Meeting of EssilorLuxottica. I face my role with a great sense of responsibility and a desire to be able to be a point of reference for all the shareholders of our new Group, while generating growth, achieving synergies and creating value for them. From today we expect the important process of integration to have an emphasis on extreme simplicity and speed of execution, focusing the two operating companies in their respective areas of excellence: Luxottica in frames and Essilor in lenses.”
Hubert Sagnières, Executive Vice-Chairman of EssilorLuxottica, commented, “With its first shareholder meeting held today, we continue to lay the foundations of EssilorLuxottica. I am delighted that the Group has taken a decisive step forward to further develop employee shareholding within the Group with the support of its shareholders. The involvement of employees has always been key to Essilor’s development and I am proud to see that our shareholders recognize the importance of this as a core feature of the new entity. Going forward, the Group is in a unique position to advance its mission and to fully seize growth opportunities in a very dynamic market.”

Schunk Group acquires stake in OptoTech

Schunk Group acquires stake in OptoTech

OptoTech Headquarter in Wettenberg, Germany. Source: OptoTech

Corporate succession is a significant topic of today. The sustainable protection and continuation of business operations for shareholders, customers, suppliers and employees are thus in the foreground. This question also arose for OptoTech as to what should happen in terms of succession for the founder, Mr. Roland Mandler (born 1954). We have taken on this issue in good time and have now found a long-term partner for the sustainable continuity and further development of the OptoTech Group with the Schunk Group from Heuchelheim. Since 1 November 2018, the Schunk Group has been the majority shareholder in OptoTech Optikmaschinen GmbH. In the future, we will continue to develop the group of companies according to the principles of enabling, idea-driven and cooperative partnership with our new shareholder.

OptoTech will be strengthened economically and technologically by the participation of the Schunk Group and thus continue to play a pioneering role in the optics market in the future. Schunk is a long-term, financially strong partner with sales of € 1.2 billion in 2017. , The technology group has grown steadily in the past and views its participation in OptoTech as a strategic and rewarding investment in the future. Schunk’s goal is to take OptoTech the leap to a new level through its economic strength and its global presence.
In the course of the participation strong synergy effects are to be used in different areas, which mean future success on the one hand and on the other hand the security and the expansion of regional jobs.
OptoTech founder Roland Mandler comments on the participation of Schunk: “With Schunk, I have found my perfect partner. Like me, Schunk also cares for the business location of Central Hesse, is also close to my heart. Schunk is a globally active and well-known technology group, which is why we, as a highly innovative technological market leader, fit excellently into the Schunk Group’s portfolio.”

 

From left to right: Peter R. Manolopoulos (Member of the Management Board of the Schunk Group), Roland Mandler (Managing Director OptoTech), Jens Schäfer (Managing Director OptoTech) und Dr. Arno Roth (CEO Schunk Group). Source: Schunk Group

 

Essilor appoints Professor Kovin Naidoo Senior Vice President of Inclusive Business, Philanthropy and Social Impact

Essilor is proud to announce Professor Kovin Naidoo has been appointed Senior Vice President of Inclusive Business, Philanthropy and Social Impact. In this newly created position, Professor Naidoo will lead the Group’s efforts to reach the 2.5billion people living with uncorrected poor vision through inclusive business and philanthropy.

Most recently serving as Associate Professor of Optometry at the University of KwaZulu-Natal (UKZN), former CEO of the Brien Holden Vision Institute and former Africa Chair of the International Agency for the Prevention of Blindness, Professor Naidoo is internationally celebrated as a public health leader. This year Kovin has been recognised by American Academy of Optometry with the Carel C. Koch Memorial Medal Awardfor his outstanding contributions to the enhancement and development of relationships between optometry and other professions.

Essilor’s Chief Mission Officer, Jayanth Bhuvaraghan commented; “We’re delighted to welcome Kovin to the team. A longstanding friend of Essilor, Kovin has dedicated his professional life to delivering eye care to people in need. As one of the leading minds working in solving the uncorrected refractive error problem around the world, his unique and diverse experience will add further strength to our inclusive business and philanthropic efforts around the world as we strive towards our ambition of eradicating poor vision by 2050.”

Professor Kovin Naidoo said of his appointment; “All my life I have been driven by the passion to make a positive impact on the world’s vision. I have supported Essilor’s initiatives to reach those living with uncorrected poor vision for a long time both as a collaborator and independent adviser. Joining Essilor, an organisation that shares my commitment to the cause and personal values, gives me the opportunity to take my actions to a new scale and I look forward to working with such a dedicated team.”

Uncorrected poor vision is the world’s most widespread disability and affects 2.5 billion people, 90% of whom live in developing countries. Every year USD 272bn is wasted in the global economy due to lost productivity as a result of uncorrected poor vision. This impact is felt acutely in rural areas where awareness and access to vision care is often poor.

Jean-Claude Hache, a man of commitment

Silmo announced news of the death of Professor Jean-Claude Hache with a great deal of sorrow. A doctor of science, neuro-ophthalmologist and professor in ophthalmology, he was the first in France to develop a visual function exploration department at the CHRU of Lille, which is still providing invaluable services in the fields of healthcare and learning. His research was characterized by a diversity of approaches, from the most fundamental to the clinical and to technology transfer.
But beyond his research, Jean-Claude Hache was also a man of commitment, always eager to contribute his work to a number of institutions. A close collaborator and friend of Guy Charlot, he created Silmo Academy and was its Chairman until 2017. The two men – both honest, sincere, direct and enthusiastic – shared the same energy for improving the view of their contemporaries, as well as for building bridges between professionals, and in particular those that they grouped under the acronym 3O: Ophthalmologists, Orthoptists and Opticians.
An open-minded man with a straightforward style who remained accessible, Jean-Claude Hache was one of the foremost spokespeople for the scientific optical field. He lectured the world over and was the author or a number of international publications recognised for their pertinence.
The members of the Silmo Board of Directors and the Silmo Academy coordination team, extend their warmest condolences to his spouse, children, grandchildren and entire family. He has left a profound impression on his students, colleagues and friends.
Said Amelie Morel, Chairwoman of Silmo

Jean-Claude Hache left us with `certitude`, discretion and trust. That was his way. We would have liked to have been by his side for his last terrestrial voyage, but he probably preferred not to disturb his friends all over the world. By asking to postpone the announcement of his departure, he once again demonstrated his attentiveness, consideration and understanding for other people, for which we knew him. We appreciated the clear, firm, productive stances that he took on each of the subjects to which he was committed. Just as he investigated the functional analysis of vision, and just as he enthusiastically taught his students, he will now explore the great beyond for his family and friends. Surely he will express his thoughts and will watch over those who are still on the journey. He was the Chairman of Silmo Academy for many years, and he appreciated pragmatic,
convivial education. We were very close and had been devoted to each other since the beginning of our careers, and he passed along Silmo Academy to my care. We’ll see you again Jean-Claude, you will be with us.
Said Christian Corbe, Chairman of Silmo Academy,

 

Essilor and Delfin successfully complete the combination of Essilor and Luxottica

Luxembourg and Charenton-le-Pont, France (October 1, 2018) – Delfin S.à.r.l (“Delfin”), the majority shareholder of Luxottica Group S.p.A. (“Luxottica”) and Essilor International (Compagnie Générale d’Optique) (“Essilor”), announced the successful completion of the combination of Essilor and Luxottica. The combined holding company named EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, prescription frames and sunglasses.

Combination complete
All conditions precedent to the closing of the transaction have been satisfied, including approval by Essilor shareholders in May 2017, the hive-down of substantially all Essilor activities to Essilor International SAS (a wholly-owned subsidiary of Essilor) in November 2017 and clearance from all antitrust authorities whose authorization was a condition precedent to the closing of the transaction.

Following the contribution by Delfin, the majority shareholder of Luxottica, of its 62.42% stake in Luxottica to Essilor on October 1, 2018, Essilor became the parent company of Luxottica and was renamed EssilorLuxottica.

As consideration for the contribution by Delfin of its stake in Luxottica to Essilor, Essilor issued 139,703,301 new ordinary shares through a capital increase without preferential subscription rights pursuant to a resolution approved by Essilor shareholders in May 2017.

Following the closing, EssilorLuxottica has a share capital made of 358,840,853 shares. Its main shareholders are Delfin (38.93% of capital with voting rights capped at 31%) and EssilorLuxottica employees (4.9%). The remaining 56.8% of the shares are being publicly held.

EssilorLuxottica will soon be launching a Mandatory Exchange Offer for the remaining issued and outstanding Luxottica shares. Following the Mandatory Exchange Offer, the interest held by Delfin would decrease to a minimum of 31% of the share capital of EssilorLuxottica depending on the acceptance rate of the Mandatory Exchange Offer1.
EssilorLuxottica draws the attention of its shareholders to the fact that the closing of the contribution and the results of the Mandatory Exchange Offer could trigger upwards or downwards threshold crossing notifications by certain of its shareholders pursuant to French law and/or EssilorLuxottica by-laws.

As from October 2, 2018, EssilorLuxottica shares will be traded on Euronext Paris, under the ticker symbol EL with the same ISIN code FR0000121667. They will be part of the CAC 40 and Euro Stoxx 50 indices.

Next steps
EssilorLuxottica will launch in due course, in accordance with Italian law, a Mandatory Exchange Offer to acquire all remaining issued and outstanding shares of Luxottica not already owned by EssilorLuxottica with a view to eventually delisting Luxottica’s shares from trading.
For further information please see the specific notice on the Mandatory Exchange Offer which was published by EssilorLuxottica today under article 102 of the Italian Consolidated Financial Act.
During the first part of 2019, EssilorLuxottica will present its first combined annual results and is expecting to hold a Capital Markets Day for investors and analysts.