Accelerated Revolution in Renaulution Shareplan 2023: Employee Shares Ownership Gains Momentum
Renault SA, the French automobile manufacturing company headquartered in Boulogne-Billancourt, has announced the deployment of its employee share ownership plan, Renault Group Shareplan, for the second consecutive year. The plan is aimed at strengthening the unity of the Renault Group and establishing the conditions for a better sharing of value within the company.
The offer is open to employees of Renault Group and its consolidated subsidiaries that are members of the PEG of either Renault SAS, DIAC or Ret Retail Renault Group (RRG), in 29 countries. These countries include France, 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.
In 23 of these countries, Renault Group offers its employees the opportunity to buy shares on favorable terms, with a 30% discount on the reference price and an additional gross contribution equivalent to 8 shares. This is an increase of 30% compared to the contributions offered under the 2022 plan. In the remaining six countries, the delivery of the shares will occur in 5 years, without retention obligation.
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). Eligible employees can receive up to 16 shares free of charge, compared to the 12 shares awarded free of charge in 2022.
The plan is implemented 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. Renault SA, the issuing company for the plan, is registered in Nanterre under number 441 639 465 and has a registered capital of €1,126,701,902.04. Renault SA is traded on Euronext Paris (France) with the ISIN code FR0000131906.
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. The employee's voluntary payment may not exceed 25% of his annual gross remuneration for 2023.
The Renault Group Shareplan is part of Renault Group's ongoing commitment to its employees and reflects the company's belief in the importance of employee ownership and participation in the long-term success of the business. The plan underscores Renault's dedication to fostering a culture of shared values, collaboration, and mutual growth.
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