Renault says shareholding plan is a success
London, 07 November 2023, (Oilandgaspress) – Renault Group announces the success of the second campaign of its Renaulution Shareplan, which was held from September 18 to October 2, 2023, for the Group’s employees. This plan included the attribution of 8 free shares to all eligible employees in 30 countries2. In 23 countries, eligible employees also had the opportunity to acquire shares on advantageous terms.
« The promotion of employee share ownership is fully in line with Renault Group’s transformation into a next-generation automotive company. With Renaulution Shareplan #2, we are taking the next step. At the end of this operation, the Group’s employees will hold approximately 5.25% of the company’s share capital. This success testifies to the employees’ confidence in the strategic orientations taken over the past 3 years. We will continue to pursue our goal of reaching 10% employee shareholders by 2030. Our plan is one of the most ambitious among all industries. » said Luca de Meo, CEO Renault Group.
The contributions offered by Renault Group in the context of the operation3 represent a total of approximately 861,500 shares, or 0.29% of the capital of Renault SA, which will be distributed free of charge to the Group’s employees.
In addition, more than 37,800 employees, representing 36% of eligible employees, participated in the subscription offer proposed as part of the Renaulution Shareplan 2023. The total investment of employees amounts to more than 33,379,000 euros, for an average subscription amount per employee of 881 euros. This represents more than 1,270,100 shares subscribed, or 0.43% of the capital of Renault SA.
In total, the Renaulution Shareplan 2023 operation will allow the transfer to the Group’s employees of approximately 2,131,700 shares, or 0.72% of the capital of Renault SA, held through an Employee Mutual Fund (FCPE) or, in certain countries, directly to a registered account.
On the date of delivery of the shares resulting from the transaction (scheduled for 22 November 2023), employees will thus hold about 5.25% of the capital of Renault SA4.
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