#To See The Beauty Of Life
Luxottica Group appoints liquidity provider
25 Jun 2015 - 07:19 PM
Milan (Italy), June 25, 2015 - Luxottica Group S.p.A. (MTA: LUX; NYSE: LUX), a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear, announced it has signed an agreement to enhance the market liquidity of Luxottica Group shares in compliance with CONSOB’s market practices permitted under resolution n. 16839 adopted on March 19, 2009 regarding activity to support market liquidity. The agreement is between the Company and Kepler Capital Markets SA (the “Intermediary”), with its corporate seat in Paris, France, Avenue Kléber, 112 and registered with the Paris Commercial Register n. 413 064 841.
Pursuant to the liquidity agreement:
- market activities will be conducted on the Mercato Telematico Azionario (MTA), organized and managed by Borsa Italiana S.p.A., starting from June 29, 2015. The agreement is effective until April 30, 2016 with the right of each party to withdraw prior to expiration;
- activities to enhance the liquidity of Luxottica’s ordinary shares shall be carried out independently by the Intermediary (which will purchase and sell ordinary shares in the name and on behalf of the Company) and with all market-related risk borne by the Company. The Company will make Euro 20 million available to the Intermediary in connection with this arrangement;
- the maximum number of bought or sold open positions in addition to those held at the beginning of the activity, shall not exceed respectively 2% of the Company’s issued shares. This limit may be exceeded exclusively in the cases set forth and according to the terms provided by CONSOB Resolution n. 16839/2009;
- the number of Luxottica Group shares bought or sold by the Intermediary in any given trading day cannot exceed 25% of the average daily volume of the shares traded on the MTA in the prior 20 trading-day period. This limit may be exceeded exclusively in the cases provided by CONSOB Resolution n. 16839/2009.
Last updated: Jul 13 2015