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    EL   FR0000121667

ESSILORLUXOTTICA

(EL)
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EssilorLuxottica : Update on mandatory public offer process

07/27/2021 | 02:20am EDT

Update on mandatory public offer process

Charenton-le-Pont, France (July 27, 2021 - 8:00 am CEST) - On July 1, 2021 EssilorLuxottica issued a press release announcing the acquisition of HAL's interest in GrandVision and the launch of a mandatory public offer (the "Offer") for the remaining issued and outstanding ordinary shares in the share capital of GrandVision at an offer price of Euro 28.42 per share.

Pursuant to Section 7 paragraph 2 of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft), which requires a public announcement containing a status update within four weeks following the announcement of a mandatory public offer, EssilorLuxottica provides the following update.

EssilorLuxottica confirms that it is making timely progress on the preparations for the Offer. EssilorLuxottica will submit a request for review and approval of the offer memorandum with the Netherlands Authority for the Financial Markets (AFM) no later than September 23, 2021, which is the ultimate date to submit the offer memorandum with the AFM for approval under the Dutch bidding rules.

As announced on July 1, 2021 EssilorLuxottica is able to fulfil its funding obligations under the Offer. EssilorLuxottica intends to fund the Offer through readily available cash resources. EssilorLuxottica may also utilize existing committed credit lines that are available for general corporate purposes.

EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux and Transitions, and world-class retail brands including Sunglass Hut, LensCrafters and since 1st July (via a 76.72% interest) - GrandVision are part of the EssilorLuxottica family. In 2020, EssilorLuxottica had over 140,000 employees and consolidated revenues of Euro 14.4 billion. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.

CONTACTS

Head of Investor Relations

Head of Corporate Communications

Giorgio Iannella

Marco Catalani

E-mail: ir@essilorluxottica.com

E-mail: media@essilorluxottica.com

DISCLAIMER

This is a press release by EssilorLuxottica S.A. pursuant Section 7 paragraph 2 and paragraph 4 of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft).

This public announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities.

The Offer will be made for the ordinary shares of GrandVision, a Dutch company with shares listed on Euronext Amsterdam, and is subject to Dutch disclosure and procedural requirements, which may be different from those of the United States of America.

To the extent applicable, the Offer will be also conducted in the United States in accordance with the applicable provisions of Section 14(e) of the U.S. Securities Exchange Act of 1934 (the "Exchange Act") and Regulation 14E adopted under the Exchange Act, and subject to any available exemptions provided by Rule 14d-1.

Neither the U.S. Securities and Exchange Commission nor any securities commission of any State of the United States of America has (a) approved or disapproved the Offer; (b) passed upon the merits or fairness of the Offer; or (c) passed upon the adequacy or accuracy of the disclosure in the offering document. Any representation to the contrary is a criminal offense in the United States of America.

This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, Canada, Japan, Australia or in any other jurisdiction in which such release, publication or distribution would be unlawful.

This press release may contain forward-looking statements that reflect EssilorLuxottica's current views with respect to future events and financial and operational performance. These forward-looking statements are based on EssilorLuxottica's beliefs, assumptions and expectations regarding future events and trends that affect EssilorLuxottica's future performance, taking into account all information currently available to EssilorLuxottica, and are not guarantees of future performance. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and EssilorLuxottica cannot guarantee the accuracy and completeness of forward-looking statements. A number of important factors, not all of which are known to EssilorLuxottica or are within EssilorLuxottica's control, could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement as a result of risks and uncertainties facing EssilorLuxottica. Any forward- looking statements are made only as of the date of this press release, and EssilorLuxottica assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

2

Disclaimer

EssilorLuxottica SA published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 06:19:04 UTC.


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Sales 2021 19 874 M 23 307 M 23 307 M
Net income 2021 1 915 M 2 246 M 2 246 M
Net Debt 2021 7 875 M 9 236 M 9 236 M
P/E ratio 2021 38,5x
Yield 2021 1,42%
Capitalization 75 778 M 88 952 M 88 865 M
EV / Sales 2021 4,21x
EV / Sales 2022 3,65x
Nbr of Employees 144 888
Free-Float 63,6%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 172,00 €
Average target price 173,19 €
Spread / Average Target 0,69%
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Managers and Directors
Francesco Milleri Chief Executive Officer & Non-Independent Director
Stefano Grassi Co-Chief Financial Officer
David Wielemans Co-Chief Financial Officer
Leonardo del Vecchio Executive Chairman
Jean Carrier-Guillomet Co-Chief Operating Officer
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