PADUA, Italy—Safilo Group S.p.A’s (SFLG.MI) shareholders’ meeting held in a single call on April 26, 2017 discussed and approved the company’s 2016 financial statements and board of directors’ report as well as viewed the consolidated financial statements.

During the ordinary shareholders’ meeting, they approved the report on remuneration submitted to the shareholders’ meeting in accordance with Art. 123-ter TUF (the Consolidated Law on Finance) and resolved favorably on the remuneration policy and procedures adopted by the company.

A new board of statutory auditors was also appointed during the meeting. It is now comprised of Carmen Pezzuto, appointed from the minority list presented by Only 3T S.r.l.; Bettina Solimando was appointed as chairman of the board of auditors and Franco Corgnati as standing statutory auditors from the majority list presented by the shareholder Multibrands Italy B.V. Marzia B. Reginato and Gianfranco Gaudioso were appointed as alternative statutory auditors from the majority and minority list.

The board will hold office until the approval of the financial statements at 31.12.2019.

The Share Buy-Back Program which was proposed by the board of directors on March 15, 2017 was approved. According to the company, the program calls for the purchase and disposal of treasury shares for up to 2,500,000 shares. Each purchase shall be executed in regulated markets at a price not lower than 10 percent and not higher than 5 percent of the average of official prices of Safilo Group shares over the five trading days prior to the date of the purchase trade and in any case not higher than 10,00 EUR per share.

The program’s aim is to provide Safilo Group will strategic investment opportunities in the frame of purposes admitted by national and European laws in force, including the service stock option plans and any other purpose set out by the “market practices” admitted by Consob.

The shareholders’ meeting also approved the new Stock Option Plan 2017-2020 proposed by the board of directors held on March 15, 2017. According to the company, the plan provides for the granting of options allowing newly issues ordinary shares of the company to be reserved to a selected group of senior executives, directors and key talented employees of the company and/or its subsidiaries identified by the board of directors, on the basis of the proposal of the remuneration and nomination committee among individuals who hold a key role in achieving the strategic objectives of the company.

The stock plan aims to support the improvement of the company’s long-term performance and the creation of shareholder value through the retention of individuals who are seen as “key” to the group’s development and with the aim of aligning the objectives of the beneficiaries with those of the company’s shareholders.

In accordance with the plan, a maximum of 2,500,000 options will be issued and granted to the beneficiaries, subject to the achievement of predetermined performance targets and will give the beneficiaries the right to subscribe one ordinary share of the company for every option assigned.

In the extraordinary session, for the purpose of the implemented Stock Option Plan 2017-2020, the shareholders’ meeting has approved a paid, also in multiple tranches and separable capital increase, with the exclusion of the option rights according to Article 2441, paragraph 4, second sentence, of the Civil code, by means of the issuance of a maximum of 2,500,000 shares, par value five euro each, for a maximum value equal to Euro 12,500,000.

Also in the extraordinary session, the shareholders’ meeting approved the transfer of the company’s registered office from Pieve di Cadore (BL-Italy), Piazza Tiziano no. 8 to Padova (PD-Italy), Settima Strada no. 15, current secondary offices of the company to enhance operational efficiency and rationalize costs provided that the registered offices of the other controlled companies Safilo S.p.A and Safilo Industrical S.r.l. are in Padova at the same address. Following the transfer of the company’s registered office, Article 2 of the Articles of Association will be amended and the secondary office in Padova (PD), Settima Strada no. 15m will be eliminated and transformed into the registered office.