Renault Group launches a shareholding plan for all its employees
Source: GlobeNewswire| PRESS RELEASE 16/11/2022 |
Renault Group launches a shareholding plan for all its employees
- Renault Group is starting up Renaulution Shareplan, an extensive employee shareholding plan. It is aiming to triple the number of its employees who own Renault shares, to 10% of its total shareholder base, by 2030.
- It is offering 6 free shares to each eligible Group employee (over 110,000 in 29 countries) and providing an opportunity to buy shares at a 30% discount in 21 countries.
- The reference price of the share in the context of the operation is set at €31.46, corresponding to a share price of €22.02 after discount. The subscription period will be from 24 November to 12 December 2022 (included).
- This employee shareholding plan will strengthen Group employee engagement around the new strategic direction.
Boulogne-Billancourt, 16 November 2022 – Renault Group has announced that it is rolling out Renaulution Shareplan for over 110,000 employees in 29 countries, to share the benefits of the Group’s expansion and performance with them.
“This employee shareholding plan is part of the “Renaulution” and the strategic moves we presented at the Capital Market Day this 8 November. We are keen to share the benefits of the company’s performance with all our employees, include them in our growing shareholder equity and involve them in building Renault Group’s future. The goal is for them to hold 10% of our share capital by 2030. In making its revolution and projecting itself into the future, Renault Group is not forgetting its origins: on the opposite, it is extending the tradition of social laboratory that has made it a unique company but bringing this tradition up to date.”
Luca de Meo, CEO Renault Group
The plan’s main terms follow.
Issuing company
Renault SA, a company with a registered capital of €533,941,113, headquartered at 122 B avenue du Général Leclerc, 92100 Boulogne-Billancourt, France, registered in Nanterre under number B 780 129 987.
Traded on Euronext Paris (France).
Ordinary share; ISIN FR0000131906 RNO.
Purpose
This plan is part of Renault Group’s policy to expand employee shareholding, with a view to rallying over 110,000 employees in 29 countries around the Group’s vision.
Scope
This plan for employees is governed by articles L. 3332-18 and following of the French labour code, and is carried out within Renault Group’s, DIAC’s and Renault Retail Group’s savings plans. However, in some countries, on account of local legal, tax-related and operational constraints, this legal framework will not apply to the share offering.
Beneficiaries
This plan is open to employees of Renault Group and of its subsidiaries included in Renault Group’s, DIAC’s and Renault Retail Group’s savings plans, in 29 countries. To be eligible, employees need to have completed at least 3 months of continuous or discontinuous service between 1 January 2021 and 12 December 2022, and their employment contract needs to be in effect at 12 December 2022.
The plan is available in Argentina, Austria, Belgium, Brazil, Chile, China, Colombia, the Czech Republic, France, Germany, Hungary, India, Ireland, Italy, Malta, Mexico, Morocco, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, Turkey and the United Kingdom.
Terms
All eligible employees in the Group are immediately awarded 6 shares free of charge, as a unilateral company contribution (except in some countries where shares will be delivered after a 5-year period and no holding requirements apply).
And, in 21 countries, Renault Group will offer its employees favourable terms to buy shares: a 30% discount on the reference price plus a 300% bonus for the first 2 shares (6 free shares for the first 2 they buy). Employees’ voluntary payments, which will be made according to applicable requirements in each country, cannot exceed 25% of their gross annual remuneration.
The Renault shares will be held for at least 5 years (except in exceptional cases) in a company mutual fund or, in some countries, in an account registered to the shareholder.
| RENAULT GROUP PRESS | Coralie Jolly +33 (0)6 85 91 09 38 coralie.jolly@rpbyco.com |
About Renault Group
About Renault Group Renault Group is at the forefront of reinventing mobility. Backed by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in terms of electrification, Renault Group draws on the complementary nature of its four brands - Renault - Dacia - Alpine and Mobilize - to offer its customers sustainable and innovative mobility solutions. With operations in more than 130 countries, the Group sold 2.7 million vehicles in 2021. It employs nearly 111,000 people who embody its raison d'être on a daily basis, so that mobility brings us closer to one another. Ready to take up challenges on the road as well as in competition, the Group is committed to an ambitious and value-generating 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, Renault Group's ambition is to achieve carbon neutrality in Europe by 2040.
https://www.renaultgroup.com/en
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