(Alliance News) - In connection with the takeover bid launched by the Della Valle and L Catterton, Tod's Spa announced Monday that the board has assigned Vincenzo Manes, lead independent director, the role of coordinating the activities within the board's competence.

Instead, the independent directors identified Romina Guglielmetti as independent director coordinator, assigning her, due to her technical skills and previous experience in similar transactions, the task of coordinating the activities of their competence aimed at preparing the opinion.

For both roles, no additional compensation is envisaged.

The Della Valle brothers, together with L Catterton and Delphine, funds at the head of LVMH, launched a tender offer - aimed at delisting - for Tod's, offering EUR43.00 per share.

Tod's stock closed Monday up 18 percent to EUR43.04 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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