Value sharing: Renault Group launches its third employee share ownership plan as part of the Renaulution
September 06 2024 - 1:45AM
UK Regulatory
Value sharing: Renault Group launches its third employee share
ownership plan as part of the Renaulution
PRESS RELEASE
6 September 2024 |
VALUE SHARING: RENAULT GROUP LAUNCHES ITS THIRD
EMPLOYEE SHARE OWNERSHIP PLAN AS PART OF THE
RENAULUTION
- To
further support employee share ownership and build on the nearly
5.07% of equity already held by employees at 31 December 2023,
Renault Group is announcing a new plan. Held for the third
consecutive year, this latest plan confirms the Group's ambition to
increase employee-held equity to 10% by 2030.
- Seven
free shares will be allocated to eligible Group employees in 30
countries. Employees in 24 countries will be able to acquire shares
at a 30% discount with an additional matching
contribution.
- The
reference share price for the plan is 41.80 euros, i.e. a
subscription price of 29.26 euros after the discount. The
subscription period will run from 18 September to 2 October 2024
(inclusive).
Boulogne-Billancourt, 6 September
2024 – Renault Group believes that employees should
benefit directly from the company’s performance. Two years ago, it
launched its first employee share ownership plan. Following the
success of the Renaulution Shareplan in 2022 and 2023,
Renault Group is repeating this initiative in 2024, with the aim of
enabling nearly 98,000 employees to become company shareholders on
preferential terms. The plan reflects the Group's ambition of
increasing employee-held equity to 10% by 2030, and strengthening
employee commitment to the company's performance and ambitions.
“The new 2024 Renaulution Shareplan is an
extremely important initiative in my eyes. Our employee share
ownership plan is one of the most advanced seen in any sector of
industry. Renault Group’s commitment to this plan over the past two
years is in keeping with its self-image as a company innovating in
all areas, maintaining its tradition as a social laboratory, but
anchored in the present day! And with the ambition of placing 10%
of equity in the hands of the people building our performance, day
after day.” Luca de Meo, CEO Renault
Group
98,000 eligible employees in 30 countries receiving seven free
shares
Like its predecessors, this third plan of the
Renaulution Shareplan is open to employees of Renault
Group and most of its subsidiaries in 30 countries, subject to any
local authorisations required: Argentina, Austria, Belgium, Brazil,
China, Colombia, Croatia, Czech Republic, France, Germany, Hungary,
India, Ireland, Italy, Malta, Mexico, Morocco, Netherlands, Poland,
Portugal, Romania, Slovakia, Slovenia, South Korea, Spain, Sweden,
Switzerland, Turkey, Ukraine and the United Kingdom.
All eligible employees will receive an
allocation of seven free shares in the form of a unilateral
contribution, with no obligation to invest.
A 30% discount on the share price with an additional matching
contribution
In 24 of these countries, Renault Group
employees have the option to purchase shares on preferential terms,
with a 30% discount on the reference price and a further matching
gross contribution equivalent to seven free shares for the first
three shares purchased.
In compliance with regulations, the investment
made by each employee is limited to 25% of their estimated annual
gross remuneration for 2024.
RENAULT GROUP
RELATIONS INVESTISSEURS |
|
Philippine
de Schonen
+33 6 13 45 68 39
philippine.de-schonen@renault.com |
RENAULT
GROUP MEDIA RELATIONS
|
Florentina Deca
+33 6 32 13 69 15
florentina.deca@renault.com
|
|
About Renault Group
Renault Group is at the forefront of a mobility
that is reinventing itself. Strengthened by its alliance with
Nissan and Mitsubishi Motors, and its unique expertise in
electrification, Renault Group comprises 4 complementary brands -
Renault, Dacia, Alpine and Mobilize - offering sustainable and
innovative mobility solutions to its customers. Established in more
than 130 countries, the Group sold 2.235 million vehicles in 2023.
It employs nearly 105,000 people who embody its Purpose every day,
so that mobility brings people closer.
Ready to take on challenges on the road as well
as in competition, the Group is committed to an ambitious,
value-creating transformation. This is centred on the development
of new technologies and services, and a new range of even more
competitive, balanced, and electrified vehicles. In line with
environmental challenges, the Group’s ambition is to achieve carbon
neutrality in Europe by 2040.
For more information:
https://www.renaultgroup.com/fr/
- 20240906_EN_Renault Group_Press Release Shareplan 2024
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