Renault Group Dishes Out seven free shares to eligible employees in 30 countries
London, September 06, 2024, (Oilandgaspress) ––Renault Group believes that employees should benefit directly from the company’s performance. Two years ago, it launched its first employee share ownership plan. Following the success of the Renaulution Shareplan in 2022 and 2023, Renault Group is repeating this initiative in 2024, with the aim of enabling nearly 98,000 employees to become company shareholders on preferential terms. The plan reflects the Group’s ambition of increasing employee-held equity to 10% by 2030, and strengthening employee commitment to the company’s performance and ambitions.
98,000 eligible employees in 30 countries receiving seven free shares
Like its predecessors, this third plan of the Renaulution Shareplan is open to employees of Renault Group and most of its subsidiaries in 30 countries, subject to any local authorisations required: Argentina, Austria, Belgium, Brazil, China, Colombia, Croatia, Czech Republic, France, Germany, Hungary, India, Ireland, Italy, Malta, Mexico, Morocco, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, Turkey, Ukraine and the United Kingdom.
All eligible employees will receive an allocation of seven free shares in the form of a unilateral contribution, with no obligation to invest.
A 30% discount on the share price with an additional matching contribution
In 24 of these countries, Renault Group employees have the option to purchase shares on preferential terms, with a 30% discount on the reference price and a further matching gross contribution equivalent to seven free shares for the first three shares purchased.
In compliance with regulations, the investment made by each employee is limited to 25% of their estimated annual gross remuneration for 2024.
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