L’Oréal has introduced its fourth Employee Share Ownership Plan (ESOP), allowing employees worldwide to purchase shares and participate in the company’s growth. The company got a phenomenal initial response with over 37,000 employees participating since its inception.
The plan allows employees to buy L’Oréal shares with an employer contribution, based on the share price. A total of 2,75,000 shares are available under this plan, with the subscription period running from 5 June to 19 June. Settlement is set for 30 July.
Furthermore, this year’s plan is available in 63 countries and aims to make it easier for new employees who joined the group in 2023 to get involved.
The purchase price of the shares, determined on 31 May, is based on the average opening price of L’Oréal shares on the Euronext Paris exchange over the previous 20 trading days. Additionally, they will be offered at a 20 per cent discount.
Shares acquired through this plan will be locked for five years, with early release exceptions governed by the relevant regulations in France and other participating countries. The new shares will be listed on the Euronext Paris exchange under the same code as existing shares and will be fully fungible upon admission to trading.
