COOPERVISION &lt;EYE> FORMS RECAPITALIZATION PLAN
  Coopervision Inc said it is
  preparing a recapitalization plan, which includes a common
  stock repurchase program and an exchange of debt securities for
  common stock.
      The plan, along with a proposal to change its name to
  Cooper Cos Inc, will be submitted for shareholders' approval at
  the company's annual meeting on June 22.
      The meeting had been postponed from its original date of
  May 14 in order to let management review recapitalization
  options, it said.
      In addition, Coopervision said operating income in its
  current fiscal quarter ending April 30 is expected to show an
  improvement over its prior fiscal quarter's 82.5 mln dlrs and
  its year ago quarter.
      Income from continuing operations was not immediately
  availalbe for the prior year's second quarter in which it
  reported a net loss of 14.9 mln dlrs.
      At a Drexel Burnham Lambert Investor Conference,
  Coopervision chairman Parker Montgomery said, as previously
  announced, he will listen to any bid that makes sense for
  shareholders.
      He also said Coopervision's stock fell in 1986 due to its
  second quarter loss, rumors of a liquidation at 30 dlrs and 35
  dlrs a share, and Ivan Boesky's subsequent sale of his
  position.
      "The stock dropped six dlrs in three days after Boesky sold
  his position and has never recovered," Montgomery said. The
  company's stock is currently trading at 19-1/4.
      Montgomery further told the conference, "Don't be an
  investor in the stock on the basis of any short term recovery
  in operating or net income in 1987 and 1988."
      "Our concentration is on maintaining or increasing market
  share in our core businesses this year and next, regardless of
  the impact to the bottom line," he said.
  

