LensCrafters 2003 Annual Report Download - page 5

98
January 2 Luxottica Group’s ordinary shares and American Depositary Shares (ADS) (one ADS represents one
ordinary share) open trading on the Mercato Telematico Azionario (Milan Stock Exchange, or MTA)
and on the New York Stock Exchange (NYSE). On the last trading day of 2002, Luxottica Group’s
ordinary shares and ADSs had closed at 12.576 and US$ 13.65, respectively, reflecting a market
capitalization of 5.7 billion and US$ 6.2 billion, respectively.
January 15 Luxottica Group and Versace Group jointly announce the signing of a worldwide license agreement
for the design, production and distribution of Versace, Versus and Versace Sport sunglasses and
prescription frames. The initial ten-year agreement is renewable for an additional ten years.
February 10 Luxottica Group denies media speculations that it is in negotiations for the acquisition of either
French-based retail chain GrandVision or Italy-based eyewear manufacturer De Rigo.
March 20 The Group launches a share buyback program through its subsidiary Luxottica U.S. Holdings Corp.
Under this plan, which follows an earlier, September 25, 2002, similar buyback program, the
Group’s subsidiary can repurchase over a period of 18 months up to 10 million ADSs, or 2.2% of
the Group’s authorized and issued share capital.
April 24 Luxottica Group reports results for the first quarter of fiscal year 2003 with net sales of 704.5
million, operating income of 111.4 million, and earnings per share or ADS of 0.15 (US$ 0.16).
April 30 Luxottica Group and OPSM Group (“OPSM”) jointly announce that Luxottica Group is to launch a
recommended cash offer for all outstanding issues of OPSM, the leading retail optical chain in
Australia. The acquisition is an important step in the Group’s strategy to expand its retail business in
the region, and it would immediately make Luxottica Group the leading player in the Australian
prescription segment. The offer is for an aggregate consideration of A$580 million, equivalent to
327 million.
May 5 The Group’s Board of Directors approves the Italian GAAP statutory and consolidated financial
statements for fiscal year 2002. The Board also proposes the payment to shareholders of a cash
dividend for fiscal year 2002 of 0.21 per ordinary share, up from a cash dividend of
0.17 per ordinary share for the previous fiscal year. For holders of the Group’s ADRs, the
proposed cash dividend is 0.21 per ADS.
June 13 Luxottica Group announces that the cash tender offer for all outstanding issues of OPSM Group is
to commence on June 16. Holders who accept the offer would receive A$3.80 in cash in addition
to a special dividend of A$ 0.10.
June 25 At the Group’s Annual Ordinary Meeting, shareholders approve the proposed cash dividend for
fiscal year 2002 of 0.21 per ordinary shares, or 0.21 per ADS.
July 10 Luxottica Group extends for an additional two weeks the cash tender offer for all outstanding issues
OPSM Group. Luxottica Group also announces that it has received confirmation from the Australian
Competition and Consumer Commission (ACCC) that it would not intervene in the transaction.
July 17 In response to inquiries from members of the financial community, Luxottica Group issues a
statement indicating that sales of Oakley sunglasses at Sunglass Hut International for the second
quarter of 2003 were flat year-over-year.
July 23 Luxottica Group and Prada Group announce the signing of a ten-year agreement for the exclusive
production and distribution of prescription frames and sunglasses bearing the Prada and Miu Miu
names. Prior to this agreement, Luxottica Group already distributed Prada-branded eyewear in
Japan and North America.
A YEAR IN THE MAKING - HIGHLIGHTS FROM 2003