Launch of a second Employee Share Ownership Plan
Clichy, 31 August 2020 - L’Oréal is announcing the launch of its second Employee Share Ownership Plan.
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.
For this second plan, Jean-Paul Agon, Chairman and CEO of L’Oréal, reaffirmed: “This year, after the success of the first plan in 2018, we want to once again involve our employees in the prosperity of our Group. This second Employee Share Ownership Plan is a new opportunity to allow those who wish to do so to support the development of the company and participate in its strategic project. This new plan reaffirms our ambition to unite our employees even more closely with L'Oréal's future.”
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 from 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, 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.
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.
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. L’Oréal sets out ambitious sustainable development goals across the Group for 2030 and aims to empower its ecosystem for a more inclusive and sustainable society.
More information: https://mediaroom.loreal.com/
"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 www.loreal-finance.com.
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.”
L'ORÉAL contacts (switchboard: +33 (0)1 47 56 70 00)
Individual Shareholders and Market Regulators
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For more information, please consult banks, brokerage firms or financial institutions (I.S.I.N. code: FR0000120321), your usual journals, the shareholders and investors website www.loreal-finance.com or the L’Oréal Finance mobile application, or call the freephone number: 0800 66 66 66.