De Rigo to Proceed With Termination of its ADR Depositary Agreement
January 10 2006 - 6:01AM
PR Newswire (US)
LONGARONE, Italy, January 10 /PRNewswire-FirstCall/ -- De Rigo
S.p.A. (NYSE:DER) announced today that it will terminate its ADR
Depositary Agreement with The Bank of New York as of February 10,
2006. Following a recent tender offer for outstanding ordinary
shares and ADSs of De Rigo by DR 3 S.r.l., a wholly-owned
subsidiary of De Rigo Holding B.V., which is wholly owned by the
brothers Ennio and Walter De Rigo, De Rigo's Board of Directors and
shareholders approved a plan including the termination of the ADR
Depositary Agreement, De Rigo's delisting from the New York Stock
Exchange and the deregistration of De Rigo's securities under the
U.S. securities laws. De Rigo currently expects its ADSs will cease
to trade on the New York Stock Exchange before the February 10
effective date of the termination of the ADR program. De Rigo is
one of the world's largest manufacturers and distributors of
premium eyewear, the major optical retailer in Spain through
General Optica, one of the leading retailers in the British optical
market through Dollond & Aitchison and a partner of the LVMH
Fashion Group for the manufacture and distribution of Celine,
Givenchy and Loewe eyewear. De Rigo also manufactures and
distributes the licensed brands Chopard, Ermenegildo Zegna, Escada,
Etro, Fila, Furla, Jean Paul Gaultier, La Perla and Mini, as well
as its own brands Police, Sting and Lozza. DATASOURCE: De Rigo
S.p.A. CONTACT: For further information, please contact: Maurizio
Dessolis, Chief Financial Officer, Tel: +39-0437-7777, Fax:
+39-0437-770727, e-mail:
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