L’Oréal is announcing the launch of its second Employee Share Ownership Plan, as it was informed in press release of Aug. 31.
The plan will be rolled out in 57 countries and will give L’Oréal employees, in France and internationally, the possibility to be even more closely linked to the Group’s development.
With its first worldwide employee Share Ownership Plan in 2018, L’Oréal opened a new chapter in its social policy.
The share purchase price will be set on 14 September 2020. It will be equal to the average of the opening price of L’Oréal shares on the Euronext Paris exchange over the twenty trading days preceding the decision, after a 20% discount.
The plan is limited to 500,000 shares (including employer contribution).
The subscription period will run fr om 17 September to 2 October 2020, and settlement (payment-delivery) is planned for 3 November 2020.
Beneficiaries will have the possibility to purchase L’Oréal shares in a “classic” subscription formula, wh ere the value of their investment will vary with changes in the L’Oréal share price. They will also benefit from an employer contribution, subject to the terms and conditions described in the plan documentation.
Shares purchased in registered form, as well as employee shareholding fund units, will be blocked for a five-year period, subject to early release exceptions defined by applicable regulations in France and the other countries in which the offer is made available.
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 36 diverse and complementary brands, the Group generated sales amounting to 29.87 billion euros in 2019 and employs 88,000 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce. Research and innovation, and a dedicated research team of 4,100 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world.
