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Dividend time at eyewear maker De Rigo
15 Dec '05
2 min read
Eyewear maker De Rigo S.p.A. announced that company approved the proposals of De Rigo's board of directors with regard to a series of matters, including the delisting of De Rigo's American Depositary Shares and the deregistration of De Rigo's ordinary shares and ADSs under the US Securities Exchange Act of 1934, as amended.
De Rigo intends to proceed with the delisting and deregistration, which are subject to compliance with applicable US securities laws and the rules of the NYSE, and currently expects that its ADSs will cease to trade on the NYSE in January.
The shareholders also approved payment of an extraordinary dividend in the amount of €1.65 per ordinary share/ADS, or a total of approximately €70 million.
The record date for the extraordinary dividend is December 16, and the dividend is expected to be paid to holders of ordinary shares on December 19 and to holders of ADSs on December 29.
The shareholders also authorized De Rigo to repurchase up to 700,000 of its ordinary shares/ADSs for a period of 18 months following the delisting of the ADSs.
Italian fashion accessories maker De Rigo is the leading manufacturers and distributors of premium eyewear, the major optical retailer in Spain through General Optica, one of the leading retailers in the British optical market through Dollond & Aitchison and a partner of the LVMH Fashion Group for the manufacture and distribution of Celine, Givenchy and Loewe eyewear.
De Rigo intends to proceed with the delisting and deregistration, which are subject to compliance with applicable US securities laws and the rules of the NYSE, and currently expects that its ADSs will cease to trade on the NYSE in January.
The shareholders also approved payment of an extraordinary dividend in the amount of €1.65 per ordinary share/ADS, or a total of approximately €70 million.
The record date for the extraordinary dividend is December 16, and the dividend is expected to be paid to holders of ordinary shares on December 19 and to holders of ADSs on December 29.
The shareholders also authorized De Rigo to repurchase up to 700,000 of its ordinary shares/ADSs for a period of 18 months following the delisting of the ADSs.
Italian fashion accessories maker De Rigo is the leading manufacturers and distributors of premium eyewear, the major optical retailer in Spain through General Optica, one of the leading retailers in the British optical market through Dollond & Aitchison and a partner of the LVMH Fashion Group for the manufacture and distribution of Celine, Givenchy and Loewe eyewear.
De Rigo S.p.A.
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