VANCOUVER, April 28, 2014 /CNW/ - Coastal Contacts Inc.
("Coastal.com" or "the Company") (NASDAQ: COA) (TSX:
COA) announced today the completion of the plan of arrangement
under which Essilor International (Compagnie Générale d'Optique),
S.A. ("Essilor") has indirectly acquired all of the issued and
outstanding common shares of Coastal.com for a purchase price of
CAD$12.45 per share (the
"Transaction").
With the completion of the Transaction, Coastal.com's common
shares are expected to cease trading and be delisted from the
Toronto Stock Exchange following the close of trading on
May 1, 2014. Coastal.com's
shares will be suspended from trading on the NASDAQ Stock Exchange
following the close of trading on April 28,
2014.
About Essilor
The world's leading ophthalmic optics company, Essilor designs,
manufactures and markets a wide range of lenses to improve and
protect eyesight. Its corporate mission is to enable everyone
around the world to access lenses that meet his or her unique
vision requirements. To support this mission, the Company allocates
more than €150 million to research and innovation every year, in a
commitment to continuously bring new, more effective products to
market. Essilor's flagship brands are Varilux®, Crizal®, Definity®,
Xperio®, OptifogTM, Foster Grant®, Bolon® and Costa®. It also
develops and markets equipment, instruments and services for
eyecare professionals.
Essilor reported consolidated revenue of over €5 billion in 2013
and employs more than 55,000 people. It operates in some 100
countries with 28 plants, more than 450 prescription laboratories
and edging facilities, as well as several research and development
centers around the world. For more information, please visit
www.essilor.com.
The Essilor share trades on the NYSE Euronext Paris market and is
included in the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA;
Bloomberg: EI:FP.
About Coastal.com
Coastal.com is a leading manufacturer and online
retailer of eyewear products offered through a family of world
class websites. Established in 2000, the Coastal.com family
of brands offers an extensive, in stock selection of prescription
eyewear, contact lenses and sunglasses. Coastal.com's vision
is to make the process simple, either on-line or at one of our
retail showrooms, so our customers can see everything life has to
offer. For more information about Coastal.com, please visit
www.coastal.com.
Cautionary Note Regarding Forward-Looking Statements
All statements made in this news release which
are not current statements or historical facts constitute
"forward-looking information" within the meaning of applicable
Canadian securities laws and "forward-looking statements" as
defined in Section 27A of the United States Securities Act of
1933, Section 21E of the United States Securities Exchange
Act of 1934, the Private Securities Litigation Reform
Act of 1995, or in releases made by the United States
Securities and Exchange Commission, all as may be amended from time
to time, and the words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect", "goal",
"target", "should", "likely", "potential", "continue", "project",
"forecast", "prospects", and similar expressions typically are used
to identify forward-looking information and statements.
Forward-looking information and statements are
based on the then-current expectations, beliefs, assumptions,
estimates and forecasts about the Transaction, Coastal.com's
business and the industry and markets in which it operates.
Forward-looking information and statements are not guarantees of
future performance and involve risks, uncertainties and assumptions
which are difficult to predict. You are cautioned that
forward-looking information and statements are subject to a number
of known and unknown risks, uncertainties and other factors, many
of which are beyond Coastal.com's control that could cause
Coastal.com's actual future results or performance to be materially
different from those that are disclosed in or implied by the
forward-looking information. These factors include, but are not
limited to, risks and uncertainties associated with changes in the
market; potential downturns in economic conditions; consumer credit
risk; Coastal.com's ability to implement its business strategies;
competition from traditional and online retailers; limited
suppliers; limited availability of inventory; disruption in
Coastal's distribution facilities; mergers and acquisitions;
foreign currency exchange rate fluctuations; regulatory
requirements; demand for contact lenses, eyeglasses and related
vision care products; the risk that Coastal.com will not be
successful in defending against litigation; dependence on the
Internet; and the other risks detailed in Coastal.com's filings
with the Canadian securities regulatory authorities.
You should not place undue reliance on
forward-looking information and statements which are qualified in
their entirety by this cautionary note. Forward-looking information
and statements in this news release are made as of the date hereof
and Coastal.com expressly disclaims any intent or obligation to
update such forward-looking information or statements, unless
Coastal.com specifically states otherwise or as required by
applicable law.
For a complete discussion of the assumptions,
risks and uncertainties related to Coastal.com's business, you are
encouraged to review Coastal.com's filings with the Canadian
securities regulatory authorities filed on SEDAR at
http://www.sedar.com.
SOURCE Coastal Contacts Inc.
