L’Oréal has unveiled its fourth Employee Share Ownership Plan (ESOP), giving employees the chance to buy shares in the company and deepen their involvement in its growth. Set to launch in 2024, the plan will be available in 63 countries where feasible
Reportedly, the pkan will include new provisions to make it more accessible to recent hires.
The first plan was launched in 2018, inviting L’Oréal employees into the collective adventure that is L’Oréal Groupe. At that time, the company received a tremendous response—over 37,000 employees joined to show their dedication and belief in the firm’s future.
The ESOP plan 2024, offers 2,75,000 shares, including employer contributions, with a subscription period running from 5 June, 2024, to 19 June 19, 2024. Additionally, settlement is scheduled for 30 July, 2024.
Participants can purchase shares through a ‘classic’ subscription formula, with investment value linked to L’Oréal’s share price fluctuations. They will also receive an employer contribution under the plan’s terms.
The share purchase price, set on 31 May , 2024 is based on the average opening price of L’Oréal shares on the Euronext Paris exchange over the previous 20 trading days, discounted by 20 per cent.
Shares and employee shareholding fund units will be held in registered form and subject to a five-year blocking period, except under early release conditions as per regulations in France and other participating countries.
This initiative reinforces L’Oréal’s commitment to sharing its success with its global workforce, fostering a stronger connection between employees and the company’s ongoing growth and values.
