LVMH announces the launch of an international employee shareholding plan, LVMH Shares
October 21 2024 - 12:37PM
UK Regulatory
LVMH announces the launch of an international employee shareholding
plan, LVMH Shares
LVMH announces the launch of “LVMH Shares”, an
international employee shareholding plan aimed at 70% of its global
workforce. It will be deployed in 11 locations and regions in
Europe, North America and Asia.
With its preferential subscription conditions,
this plan is an opportunity to involve employees in the Group’s
development. It also shows appreciation for their everyday work and
commitment.
LVMH Shares is opening up a new way to join
forces and talents with a view to facing the coming years with
determination.
“This plan builds on the
fundamentals of our Group: its family spirit and its values of
innovation & creativity, excellence, entrepreneurship and
commitment. Shared by all our employees in
stores, workshops and head offices around the world,
these values guide us every day towards a common goal: to arouse
desire. I am confident that our future success depends on our
ability to work together to continue expanding our
Group”, points out Bernard Arnault, Chairman and
CEO of the LVMH Group.
“LVMH Shares is aptly named: this sharing programme is aimed at
all employees indiscriminately, and reflects the Group’s desire to
work together over the long term. This inclusive plan recognises
everyone’s contribution and talent because we are convinced that,
at LVMH, it is the men and women who make all the difference. LVMH
Shares is yet another example of this”, says Chantal
Gaemperle, LVMH Group Executive Vice President Human Resources
& Synergies.
The share subscription price, determined on 18
October 2024, will be equal to the average opening price of the
LVMH share on the Euronext Paris market during the twenty trading
days preceding this decision, minus a 20% discount.
Employees eligible for the offer will benefit
from a matching contribution under the conditions described in the
documentation prepared for them.
The plan will involve a maximum of 200,000 newly
issued shares.
The subscription period will run from 24 October
to 13 November 2024 and delivery of the securities is scheduled for
18 December 2024.
All dates indicated are given as a
guide and may be changed due to events affecting the smooth running
of the plan.
Shares subscribed for directly or via an FCPE
will be blocked, unless one of the cases of early release occurs in
accordance with the laws or regulations in force.
Application for the LVMH shares issued as part
of the plan to be listed on the Euronext Paris market will be made
as soon as possible after the capital increase. These shares will
be listed on the same quotation line as existing shares (ISIN code:
FR0000121014) and will be fully fungible as soon as they are
admitted to trading.
***
International warning
This press release does not constitute an
offer to sell or a solicitation of an offer to subscribe for LVMH
shares. Outside France, the offer is reserved for the beneficiaries
mentioned in this press release and will only be made in locations
where such a plan has been registered with or notified to the
relevant local authorities, or pursuant to an exemption from the
requirement to file a prospectus or to register or notify the
offer. This press release is not intended for locations where the
offer is subject to approval by the relevant authorities. More
generally, the offer will only be made in locations where all the
necessary registration procedures and/or notifications have been
completed and the required authorisations have been
obtained.
- LVMH SHARES_Press Release
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