Renault Group's Employee Shareholding Scheme Targeting 2024: Bold Expansion
Renault Group has announced the successful completion of the third instalment of its employee share ownership plan, dubbed Renaulution Shareplan 2024. The campaign, which ran from September 18 to October 2, 2024, saw nearly 46,000 employees across 30 countries participate, representing 43% of eligible employees.
The operation will transfer approximately 1,881,000 shares, or 0.64% of Renault SA's capital, to employees. With these shares, employees will own a significant 5.74% of Renault SA's capital, bringing the Group closer to its goal of achieving 10% employee ownership.
The average subscription amount per employee was €679, totalling over €31.1 million in investments by employees. The unilateral matching for the Renaulution Shareplan 2024 offer was equivalent to 7 shares, with additional matching capped at the equivalent of 7 shares in case of subscription. This means that eligible employees in 30 countries received 7 free shares during the campaign.
The matching grants under Renaulution Shareplan 2024 represent approximately 0.28% of Renault SA's capital. The Employee Share Ownership Trust (ESOT) or personal accounts will be used for the share distribution.
Renault Group CEO Luca de Meo expressed his delight at the success of the campaign, stating, "The high participation rate reflects employees' commitment and confidence in the company's strategic direction."
Participating countries in this operation include Germany, Argentina, Austria, Belgium, Brazil, China, Colombia, South Korea, Croatia, Spain, France, Hungary, India, Ireland, Italy, Malta, Morocco, Mexico, Netherlands, Poland, Portugal, Czech Republic, Romania, United Kingdom, Slovakia, Slovenia, Sweden, Switzerland, Turkey, and Ukraine.
By the end of the campaign, employees will own a significant 5.74% of Renault SA's capital, bringing them closer to the Group's goal of achieving 10% employee ownership. This move is expected to further align the interests of employees with those of the company, fostering a culture of long-term commitment and shared success.
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