LensCrafters 2013 Annual Report Download - page 32

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10. SUBSEQUENT EVENTS
For a description of significant events after December 31, 2013 please refer to Note 37 of the footnotes of the
consolidated financial statements as of December 31, 2013.
11. ADAPTATION TO THE ARTICLES 36-39 OF THE REGULATED MARKET
Articles 36 – 39 of the regulated markets applies to 44 entities based on the financial statements as of December 31, 2013:
In Particular the Group:
• applies to all the Extra European Union subsidiaries, internal procedures under which it is requested that all
Group companies release a quarterly representation letter that contains a self-certification of the
completeness of the accounting information and controls in place, necessary for the preparation of the
consolidated financial statements of the parent;
• ensures that subsidiaries outside of Europe also declare in these representation letters their commitment to
provide auditors of the Company with the information necessary to conduct their monitoring of the parent’s
annual and interim period financial statements;
• as set out in Part III, Title II, Chapter II, Section V of Regulation No. 11971/1999 and subsequent
amendments, makes available the balance sheet and income statement of the aforementioned subsidiaries
established in states outside the European Union, used to prepare the consolidated financial statements.
12. OTHER INFORMATION
As required by Section 2428 of the Italian Civil Code, it is reported that:
• The Group carries out research and development activities in relation to production processes in order to
improve their quality and increase their efficiency. The costs incurred for research and development are immaterial.
• No atypical and/or unusual transactions, as defined by Consob Communication 6064293 dated July 28,
2006, were undertaken during 2013.
• The information required by Section 123-bis par.1 of Italian Legislative Decree 58 dated February 29,
1998, is disclosed in the corporate governance report forming an integral part of the annual financial report.
• The Company is not subject to direction and coordination by others, as discussed in more detail in the
corporate governance report.
• The Company has made a national group tax election (sections 117-129 of the Italian Tax Code). Under
this election, Luxottica Group S.p.A., as the head of the tax group for the Group's principal Italian companies,
calculates a single taxable base by offsetting taxable income against tax losses reported by participating companies
in the same year.
• On January 29, 2013 the Company elected to avail itself of the options provided by Article 70, Section 8,
and Article 71, Section 1-bis, of CONSOB Issuers’ Regulations and, consequently, will no longer comply with the
obligation to make available to the public an information memorandum in connection with transactions involving
significant mergers, spin-offs, increases in capital through contributions in kind, acquisitions and disposals.