Acceleration of the Renaulution in 2023: Increased Employee Ownership of Shares
Renault SA, a French automobile manufacturer with a registered capital of €1,126,701,902.04 and registered under number 441 639 465 in Nanterre, France, has announced an expanded employee share ownership plan for 2023. Known as the Renaulution Shareplan, this initiative is being implemented in 29 countries and involves nearly 98,000 employees.
The plan, now in its second consecutive year, offers eligible employees the opportunity to buy shares on favourable terms, with a 30% discount on the reference price and an additional gross contribution equivalent to 8 shares. The countries participating in the plan include 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.
Eligible employees must have at least 3 months of continuous or discontinuous seniority between 1st January 2022 and 2nd October 2023. They can receive up to 16 shares free of charge in the 2023 plan, compared to the 12 shares awarded free of charge in 2022. Eligible employees receive a free and immediate allocation of 8 shares, except in certain countries where the delivery of the shares will occur in 5 years, without retention obligation.
The plan is designed to create and share value among the employees. The offer for employees is made 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. The ISIN code for Renault SA is FR0000131906, and the 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.
It is important to note that 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 Retail Renault Group (RRG). The offer is deployed outside the legal framework in some countries due to local legal, tax, and operational constraints.
In 23 countries, Renault Group offers employees the opportunity to buy shares on favourable terms, with a 30% discount on the reference price and an additional gross contribution equivalent to 8 shares. The exact countries and eligibility details are specified by the company’s participation plan documents.
The offer may not exceed 25% of an employee's annual gross remuneration for 2023. Renault SA, the issuing company, is headquartered in Boulogne-Billancourt, France, and is traded on Euronext Paris (France).
This initiative is part of Renault Group's commitment to fostering a culture of employee ownership and engagement, aligning the interests of employees with those of the company, and encouraging long-term value creation.
