Yahoo Finance RENAULT GROUP: Success of the Renault Group shareholding plan
PRESS RELEASE |
Success of the Renault Group shareholding plan
Renault Group has successfully finalised its Renaulution Shareplan, open to all employees.
More than 95,000 employees will benefit from 6 free shares. Among them, more than 40,000 have also subscribed to shares at a preferential price of 22.02 euros.
In total, with nearly 2.7 million additional shares held by employees, the Renaulution Shareplan operation represents 0.9% of Renault's capital.
Employees will hold around 4.7% of the capital after the operation, a new step in the ambition to reach 10% of employee shareholders by 2030.
The success of this employee shareholding plan attests to the commitment of the Group's employees and their confidence in its strategic direction.
Boulogne-Billancourt, 9 January 2023 – Renault Group announces the success of its Renaulution Shareplan, which ran from 24 November to 12 December 2022, for Group employees. This plan included the attribution of 6 free shares to all eligible employees in 29 countries, and an additional offer in 21 countries to acquire shares at a 30% reduction, at a price of 22.02 euros.
“We are pleased with the success of the Group's employee shareholding operation. It attests to the confidence of our employees in our Renaulution plan and in the strategic orientations announced last November. With employee shareholding, all our teams benefit from the value we create and are associated with the Group's performance over the long term. The Group's employees will hold approximately 4.7% of the capital at the end of the Renaulution Shareplan operation. This is another important step in our ambition to reach 10% employee ownership by 2030.” said Luca de Meo, CEO Renault Group.
In total, the Renaulution Shareplan operation will enable the transfer to Group employees of approximately 2,698,190 additional shares, representing 0.91% of Renault SA's share capital, held through an employee mutual fund (FCPE) or, in some countries, directly in a registered account.
As part of the plan, the contributions1 offered by Renault Group amount to more than 812,608 shares2 which will be given free of charge to the Group's 95,396 employees on 7 February 2023.
40,307 employees also subscribed to additional shares, investing an average of 1,160 euros per person. This subscription represents 41,520,000 euros, or 1,885,590 shares.
RENAULT GROUP | Philippine de Schonen |
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RENAULT GROUP | Coralie Jolly |
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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
1 Unilateral contribution equivalent to 6 shares and additional contribution of 300% limited to the equivalent of 6 shares in case of subscription.
2 Raw number of shares.
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