Accelerating Revolution with Renault Shareplan 2023: Employee Share Ownership Gaining Momentum
Renault Group has announced the expansion of its employee share ownership plan, known as the Renaultution Shareplan, for the second consecutive year. The plan, which is available to employees of Renault Group and its consolidated subsidiaries, is now open in 29 countries, involving nearly 98,000 employees.
The offer, 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, is designed to strengthen the unity of the company and establish conditions for a better sharing of value.
To be eligible for the offer, employees must have at least 3 months of continuous or discontinuous seniority between 1st January 2022 and 2nd October 2023, and an employment contract in force on 2 October 2023. The offer is deployed in France and internationally in various countries, including 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.
The contributions offered under the 2023 plan have been increased by 30% compared to 2022. Eligible employees can receive up to 16 shares free of charge, compared to the 12 shares awarded free of charge in 2022. In addition, in 23 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.
Renault SA, headquartered in Boulogne-Billancourt, France, is the issuing company for the share plan. The employee's voluntary payment may not exceed 25% of his annual gross remuneration for 2023. 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 subject to local authorizations required. In some countries, due to local legal, tax, and operational constraints, the offer is implemented outside this legal framework.
Renault SA, with a registered capital of €1,126,701,902.04, is traded on Euronext Paris and has an ISIN code of FR0000131906. The company added Greece, Portugal, Costa Rica, Panama, and Mauritius to the Renaultution Shareplan 2023, expanding the coverage to 29 countries.
The Renaultution Shareplan is part of Renault Group's commitment to its employees and is aimed at fostering a sense of ownership and shared success among its workforce.
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