L’Oréal has announced the launch of its fourth Employee Share Ownership Plan, allowing employees to purchase shares in L’Oréal and more closely participate in its development.
In 2024, the plan will be rolled out in all countries where it is feasible (63 in total) and features enhanced accessibility for employees recently joining the Group.
Nicolas Hieronimus, Chief Executive Officer, L’Oréal Groupe, said, “We introduced the Employee Share Ownership Plan in 2018 to enable employees to join in the great collective adventure that is L’Oreal Groupe.”
“The response was outstanding – and since then, more than 37,000 employees have participated, demonstrating their commitment and confidence in the future growth and values of the Groupe,” Nicolas Hieronimus added.
“We wish to continue to share in our success with as many employees as possible, in France and internationally, which is why our ambition moving forward is to offer the Employee Share Ownership Plan on an annual basis”, Nicolas Hieronimus added.
The beneficiaries will have the possibility to purchase L’Oréal shares in a ‘classic’ subscription formula, where the value of their investment will vary with changes in the L’Oréal share price.
They will also benefit from an employer contribution, subject to the terms and conditions described in the plan documentation.
Also Watch: How to Improve Employee Performance in 8 Easy Steps, Click Here
Key dates and figures:
- The plan is limited to 275,000 shares, including employer contribution
- The subscription period will run from 5 June 20204 to 19 June 2024
- Settlement, or payment delivery, is planned for 30 July 2024
The share purchase price was set on 31 May 2024 and is equal to the average of the opening price of L’Oréal shares on the Euronext Paris exchange over the twenty trading days preceding the decision, after a 20% discount.
Note: We are also on WhatsApp, LinkedIn, Google News, and YouTube, to get the latest news updates, Subscribe to our Channels. WhatsApp– Click Here, Google News– Click Here, YouTube – Click Here, and LinkedIn– Click Here.
