LensCrafters 2011 Annual Report Download - page 265

| 189 >STATUTORY FINANCIAL STATEMENTS - BOARD OF DIRECTORS PROPOSAL
Board of Directors proposal
The Board of Directors, in consideration of the prospects for the Group development and
its expectations of future income, recommends the distribution of a gross dividend of
Euro 0.49 per ordinary share, and hence per American Depository Share (ADS), payable
out of the net income of the 2011 fiscal year totalling Euro 180,887,125, and in part out of
the extraordinary reserve composed of profits of tax years ending after the tax year ended
December 31, 2007.
Having taken into account the calendar approved by Borsa Italiana S.p.A., the Board of
Directors recommends that the payment date of the dividend is set for May 24, 2012, with
its ex-dividend date on May 21, 2012.
Having taken into consideration the number of shares that are presently in circulation,
namely 467,659,760, the total amount to be distributed would be equal to Euro 229.2
million (Euro 226.1 million taking into account 6,186,425 shares which are directly owned
by the Company on the date of the present report). The distribution would take place after
the allocation of Euro 10,504.96 to the legal reserve.
It should be noted that the amounts in question may vary due to the possible issue of
new shares following the exercise of stock options and/or the purchase of further treasury
shares by the Company before the ex-dividend date. In any case, in the event that all the
exercisable stock options are in fact exercised before the ex-dividend date, the maximum
amount to be taken from the profit for the year for the distribution of the dividend,
assuming that the number of the treasury shares of the company remains unchanged,
would amount to approximately Euro 227.4 million.
Milan, February 28, 2012
On behalf of the Board of Directors
Andrea Guerra
Chief Executive Officer