Accelerating Renewal for Shareplan 2023: Employee Ownership Ramping Up Swiftly
The Renault Group, a global automobile manufacturer, has announced the launch of its second annual employee shareholding offer, known as the Renaulution Shareplan. This initiative, which forms part of the company's employee share ownership policy, is open to employees of Renault Group and its consolidated subsidiaries in 29 countries, subject to local authorizations.
The plan, which is being implemented in 22 countries including France, Germany, Argentina, Austria, Belgium, Brazil, China, Colombia, South Korea, Croatia, Spain, Hungary, India, Ireland, Italy, Malta, Morocco, Mexico, Netherlands, Poland, Portugal, Czech Republic, Romania, United Kingdom, Slovakia, Slovenia, Sweden, Switzerland, and Turkey, is listed on Euronext Paris (France) with ISIN code: FR0000131906.
Eligible employees can now receive up to 16 free shares, compared to the 12 free shares allocated in 2022. To subscribe to the offer, the employee must have at least 3 months of continuous or discontinuous service between January 1, 2022, and October 2, 2023, and a valid employment contract as of October 2, 2023.
In some countries, due to local legal, tax, and operational constraints, the offer is implemented outside the legal framework. Eligible employees receive an immediate and free allocation of 8 shares, except in certain countries where the delivery of shares will take place in 5 years.
The contributions offered in the 2023 plan have increased by 30% compared to 2022. In addition, Renault Group offers an advantageous share purchase offer with a 30% discount on the reference price and an additional gross grant equivalent to 8 shares in 23 countries.
Luca de Meo, CEO of Renault Group, stated that the plan strengthens the unity of the Group and sets the conditions for a better sharing of value. He further added that the plan is being carried out within the framework of the French Labour Code and Renault Group's group savings plans.
Renault SA, with a share capital of 1,126,701,902.04 €, is the issuing company for this plan. The registered office of Renault SA is at 122-122 bis Avenue du Général Leclerc, 92100 Boulogne-Billancourt, France. Renault SA is registered with the Nanterre Trade and Companies Register under number 441 639 465.
The Renaulution Shareplan is a significant step for Renault Group, reinforcing its commitment to its employees and fostering a sense of ownership and shared success.
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