L’Oréal announces launch of fourth employee share ownership plan
today announces the launch of its fourth Employee Share Ownership Plan, allowing employees to purchase shares in L’Oréal and more closely participate in its development. In 2024, the plan will be rolled out in all countries where it is feasible (63 in total) and features enhanced accessibility for employees recently joining the Groupe.
“We introduced the Employee Share Ownership Plan in 2018 to enable employees to join in the great collective adventure that is L’Oreal Groupe. The response was outstanding – and since then, more than 37,000 employees have participated, demonstrating their commitment and confidence in the future growth and values of the Groupe,” said Nicolas Hieronimus, Chief Executive Officer, L’Oréal Groupe. “We wish to continue to share in our success with as many employees as possible, in France and internationally, which is why our ambition moving forward is to offer the Employee Share Ownership Plan on an annual basis1.”
Beneficiaries will have the possibility to purchase L’Oréal shares in a ‘classic’ subscription formula, where 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.
Key dates and figures:
- The plan is limited to 275,000 shares, including employer contribution
- The subscription period will run from 5 June 20204 to 19 June 2024
- Settlement, or payment delivery, is planned for 30 July 2024
The share purchase price was set on 31 May 2024 and is 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.
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.
The application for admission to trading on the Euronext Paris exchange of the shares issued will be filed as soon as possible after the capital increase. They will be listed under the same code as the existing shares (ISIN code: FR0000120321) and will be fungible with those shares from their admission to trading.
About L’Oréal
For 115 years, L’Oréal, the world’s leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L’Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.
With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies,perfumeries, hair salons, branded and travel retail), in 2023 theGroup generated sales amounting to 41.18 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.More information on .
This press release does not constitute an offer of sale or solicitation of an offer to purchase L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our website . For residents of Israel, the offering described above is made pursuant to the Disclosure Document which may be obtained on the subscription website.
This press release may contain forecast information. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements.”
CONTACTS L’ORÉAL
Switchboard
+33 (0) 1 47 56 70 00
Individual shareholders and market authorities
Pascale Guerin
+33 (0)1 49 64 18 89
Investor relations
Eva Quiroga
+33 (0)7 88 14 22 65
Media
Brune Diricq
+33 (0)6 63 85 29 87
brune.diricq @loreal.com
Christine Burke
+33 (0)6 75 54 38 15
For further information, please contact your bank, stockbroker of financial institution (I.S.I.N. code: FR000012031) and consult your usual newspapers or magazines or the Internet site for shareholders and investors, , the L’Oréal Finance app or call the toll-free number from France: 0 800 66 66 66. 0 800 66 66 66
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1Future share ownership plans will be subject to the prior approval of L’Oréal’s shareholders and Board of Directors, the authorisation of the relevant authorities, in particular the French AMF (Autorité des Marchés Financiers), to the completion of the required procedures with employee representatives and to market and economic conditions. The offered conditions may vary from year to year.
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