Luxottica terminated a share buyback program for up to 1 million ordinary shares announced on May 12 and announced the launch of a new scheme to repurchase up to 4 million ordinary shares representing 0.827 percent of its issued share capital. The share buyback is aimed at setting up a reserve of shares that can be used to replace financial resources in order to carry out any extraordinary financial transactions, implementing the company's 2013-2017 incentive plan based on performance shares and/or in connection with other compensation plans or instruments that may be approved in the future, and to support the group's liquidity and the stabilization of the share price.