Renault Group: Renaulution Shareplan 2023: the Revolution is accelerating, employee share ownership too
Renaulution Shareplan 2023: the Revolution is accelerating, employee share ownership too
- For the second year, Renault Group is deploying Renaulution Shareplan, its large–scale employee share ownership operation. With 4.7% of the capital held by employees at the end of the 2022 Renaulution Shareplan, the Group continues its commitment to employee share ownership and thus confirms its ambition to reach 10% of the capital held by employees by 2030.
- The offer includes the free allocation of 8 shares to each of the Group’s eligible employees, in 29 countries, and the possibility, in 23 countries, to acquire shares with a discount of 30%.
- The share reference price for the transaction is set at €37.54, a share price of €26.28 after discount. The subscription period will run from September 18 to October 2, 2023 (inclusive).
Boulogne-Billancourt, 5 September 2023 – Renault Group announces the implementation of its employee share ownership plan Renaulution Shareplan for the second consecutive year. This offer is open in 29 countries and will involve nearly 98,000 employees in the creation and sharing of value.
Renault Group has increased the contributions offered under the 2023 plan by 30% to benefit eligible employees from the success of the implementation of the stages of the Revolution. This significant increase will allow eligible employees to receive up to 16 shares free of charge, compared to the 12 shares awarded free of charge in 2022.
“By continuing the implementation of one of the most ambitious employee share ownership plans, all sectors considered, we are strengthening the unity of the Group. Renaulution Shareplan establishes the conditions for a better sharing of value, so that the Revolution benefits everyone within the company.”
Luca de Meo, CEO Renault Group
The main modalities are described below.
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.
This plan is part of Renault Group’s policy of deploying employee share ownership to involve nearly 98,000 employees from 29 countries in the Group’s ambitions.
The offer reserved for employees is made within the framework of articles L. 3332-18 and following of the French Labour Code, as well as the group savings plans («PEG») of Renault Group, the DIAC group and the RRG group. In some countries, due to local legal, tax and operational constraints, the offer is implemented outside this legal framework.
The offer is open to employees of Renault Group and its consolidated subsidiaries that are members of the Renault Group, DIAC or Retail Renault Group PEG, in 29 countries, subject to local authorizations required. To subscribe to the offer, the employee must have at least 3 months of continuous or discontinuous seniority between 1st January 2022 and 2nd October 2023 and an employment contract (with a consolidated company and member of the PEG) in force on 2 October 2023.
The offer is deployed in France and internationally in the following countries: Argentina, Austria, Belgium, Brazil, Czech Republic, China, Colombia, Croatia, Germany, Hungary, India, Ireland, Italy, Malta, Morocco, Mexico, Netherlands, Poland, Portugal, Romania, Spain, Slovakia, Slovenia, Sweden, Switzerland, United Kingdom and Turkey.
All eligible employees of the Group benefit from the free and immediate allocation of 8 shares, in the form of a unilateral contribution (except in certain countries where the delivery of the shares will occur in 5 years, without retention obligation).
And in 23 countries, Renault Group offers its employees an offer to buy shares on favourable terms, with a 30% discount on the reference price and an additional gross contribution equivalent to 8 shares (300% top-up on the first two shares, or 6 free shares for 2 purchased and 200% on the third share purchased or 2 additional free shares). The employee’s voluntary payment may not exceed 25% of his annual gross remuneration for 2023.
Renault shares will be held for at least 5 years (except in exceptional cases of early exit) through an employee mutual fund (FCPE) or in certain countries, directly in a registered account.
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 has sold 2.1 million vehicles in 2022. It employs nearly 106,000 people who embody its Purpose every day, so that mobility brings people closer. Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. 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.
|RENAULT GROUP INVESTOR
|Philippine de Schonen
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