L’Oréal has announced the launch of its third employee share ownership plan, which will be rolled out across 63 countries.
As of now, the plan is limited to 500,000 shares (including employer contribution).
'Commitment And Confidence'
Commenting on the plan, Nicolas Hieronimus, CEO of L’Oréal said, “After the success of the first two operations in 2018 and 2020, which enabled some 30,000 employees to demonstrate their commitment and confidence in the future growth and values of our group, we are again pleased to offer them this year another opportunity to strengthen their link with L’Oréal’s future financial and extra-financial success.
“This third Employee Share Ownership Plan is a new opportunity to allow those who wish to do so to join a great collective adventure and participate in a common project, our sense of purpose: Create the beauty that moves the world”.
The share purchase price, which will be set on 3 June, will be 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.
Beneficiaries will be able to buy 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 benefit from an employer contribution, subject to the terms and conditions described in the plan documentation.
The subscription period is planned to run between 8 June and 22 June. The settlement (payment-delivery) is planned for 26 July.
According to the company, if anyone purchases share either in registered form or employee shareholding fund units, that individual will be blocked for a five-year period.
© 2022 European Supermarket Magazine – your source for the latest A-Brands news. Article by Nikita Naz Siddique. Click subscribe to sign up to ESM: European Supermarket Magazine.