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May 10, 2021May 10, 2021

ISS and Glass Lewis Recommend Shareholders of New Look Vision Vote FOR Proposed Plan of Arrangement

New Look Vision Group today announced that both Institutional Shareholder Services Inc. (ISS) and Glass Lewis and Co have recommended that holders of Class A common shares of New Look Vision vote FOR the proposed plan of arrangement with NL1 AcquireCo, an entity created by a group composed of funds managed by FFL Partners, LLC, a San Francisco-based private equity firm, Caisse de dépôt et placement du Québec or one of its affiliates (“CDPQ”), and the Dr. H. Doug Barnes Family. ISS and Glass Lewis are independent proxy advisory firms who provide voting recommendations to institutional shareholders.

Under the Arrangement, Shareholders will receive $50.00 in cash per Share, other than certain shareholders who will receive, in respect of certain of their Shares, common shares of the Purchaser.

ISS noted: “The cash consideration will provide shareholders certainty of value and immediate liquidity at a premium, allowing shareholders to exit their investment at an all-time high share price. At the beginning of 2019, the board and management determined that additional financing is required for the company to continue its medium- and long-term growth plans. Following a rigorous search and review process conducted by the Special Committee and the independent financial advisors, it appears that the going-private transaction represents the best path forward.”

Glass Lewis’ report states that: “Given what we consider to be a thorough and reasonably measured sale process and what appears to be a rather compelling takeover price, we consider there is suitable cause for investor support at this time. Accordingly, we recommend shareholders vote FOR this proposal.”

Click HERE for the full press release.

Vision Expo Extends Free Registration in Response to Strong Momentum in Attendee Registration

The Vision Council and Reed Exhibitions, organizers of Vision Expo, announce that free registration for Vision Expo East 2021, taking place June 2-5 in Orlando, Florida, will be extended indefinitely. The decision to extend the free registration deadline is based on the recent, notable spike in attendee registration. Additionally, given the recent announcements regarding new industry supporters, new exhibitors, and details on the programming planned for The Seen, including the EYE2EYE Series, Innovation Stage and the Career Zone, the extended deadline also reflects an effort by the Show organizers to give the community time to make their plans based on these new Show details.

“Due to restrictions on international travel, we always knew that Vision Expo East 2021 would look a little different than a typical, international Vision Expo East in New York City. Given these realities, it has been truly thrilling to have our expectations exceeded again and again – by the response from the industry, the enthusiasm from exhibitors and the momentum in attendee registration,” said Mitch Barkley, Vice President of Trade Shows and Events at The Vision Council, co-owner of Vision Expo.

More than 200 exhibiting companies, of which more than 60 are new to Vision Expo, have committed to Vision Expo East.

“What’s so exciting about Vision Expo East Orlando is that we are expecting a comparable ratio of attendees to exhibitors as a typical Show, just on a smaller scale,” said Fran Pennella, Vice President, Vision Expo, Reed Exhibitions. “While we won’t have as many exhibitors or attendees given the international travel restrictions, the density of exhibitors and attendees is still on-track to be the same as a typical Show.”

Vision Expo East’s educational program, together with OptiCon®@Vision Expo, will open Wednesday, June 2 and exhibits will open Thursday, June 3.

Click to register.

Click HERE for the full press release.

May 7, 2021May 7, 2021

SILMO Paris: Let’s Enjoy Real Contact Again

Last Thursday, April 29, the French government announced a plan to progressively release the country’s lock-down measures. This officially confirms what we have been anticipating: that trade fairs, conferences and exhibitions will be able to open.

Beginning on June 30th, there will be no maximal capacity for such events, as long as the health measures still in force are observed. The benefits of worldwide vaccination campaigns and their widespread acceleration, the loosening of international travel conditions, the establishment of a European health pass, and the obvious eagerness of professionals to reunite enable us today to confirm that SILMO Paris 2021 will take place.

“After two years without any major international assemblies, the reunion of optical and eyewear industry professionals will only be more intense. The whole team of SILMO Paris is hard at work to prepare this recovery edition, and we are looking forward to seeing you! We can’t wait to enjoy the delight of discovery, the opportunity for encounters and the conviviality of discussions. It is clear that all the technology in the world will never replace the power and emotion of a physical event…” Amélie Morel, Chairwoman of SILMO Paris

SILMO Paris will be held at Paris Nord Villepinte, September 24 to 27, 2021.

Discover the SILMO galaxy here.

Click HERE for the full press release.

May 7, 2021May 7, 2021

Privé Revaux Appoints Maureen Cavanagh as Senior VP of Global Sales

Privé Revaux, acquired by Safilo in February 2020, has appointed Maureen Cavanagh as Senior Vice President of Global Sales, effective April 2021. In her role, Maureen will provide leadership and strategic direction to the global sales function and help drive growth as Privé Revaux continues to expand into new international regions and markets.

Maureen has over 25 years of optical experience spanning from Johnson & Johnson Vision Care to most recently Essilor of America for the past 15 years, where she held senior executive positions including President of Nassau Vision Group, Vice President of Retail and Board Director of Essilor International.

Maureen is also a certified optician by the American Board of Opticianry and past President of the Optical Women’s Association in the US.

“We welcome Maureen who is a highly experienced professional in the industry, with strong entrepreneurial skills and successful background,” commented David Schottenstein, founder and CEO of Privé Revaux. “With her veteran sales leadership, we will have greater alignment and collaboration, as we expand globally.”

Click HERE for the full press release.

New Report Reveals Vision Loss Costs Canada Almost $33 Billion Annually

The Canadian Council of the Blind, partnering with Fighting Blindness Canada, and key partners, the Canadian Association of Optometrists and the Canadian Ophthalmological Society, commissioned new research, The Cost of Vision loss and Blindness in Canada, from Deloitte Access Economics, to identify Canada’s emerging crisis of preventable blindness.

A new report reveals the emerging crisis of preventable blindness in Canada, totalling almost $33 billion and impacting all Canadians– including individuals, families and governments.

Living with vision loss negatively impacts an individual’s financial health and often represents a loss of independence affecting their quality of life. As Canada’s population ages, the main drivers of vision loss are more prevalent and will increasingly impact Canada’s health system and economy.

The Cost of Vision Loss in Canada Report (“the Report”) shows 1.2 million Canadians are living with vision loss, with many facing a lack of investment in services and supports that impact them to live life to its fullest potential. This number is expected to grow to 2 million people by 2050, which is concerning given 75% of vision loss is either reversable, preventable or treatable if caught early.

The Report revealed the costs that Canadians with vision loss experienced in 2019 as:

• Direct health care costs – $9.5 billion

• Indirect health care & other costs – $6.1 billion

• Cost of well-being – $17.4 billion

“The direct health care costs highlight the need to reduce the progression of eye diseases and vision loss through preventive health measures,” said Keith Gordon, Ph.D., the principal investigator of the Report. “The research demonstrates that the affected individuals and their families primarily bear 65% of the costs of living with vision loss.”

Click HERE for the full press release.