De Rigo shareholders approve delisting

Shareholders of Italian eyewear manufacturer and retailer De Rigo - the parent company of Dollond & Aitchison - have approved the delisting of its shares on the New York Stock Exchange.

The week after Safilo relisted on the the Milan stock exchange, De Rigo said it intended to proceed with the delisting and deregistration, subject to compliance with applicable US law and the rules of the NYSE, and expects its shares to stop trading next month.

The shareholders also approved payment of an extraordinary dividend in the amount of €1.65 per ordinary share or American Depositary Share (ADS), equivalent to some €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 authorised 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.