L'Oréal News Release: "L’Oréal announces the launch of a third Employee Share Ownership Plan"
L’ORÉAL ANNOUNCES THE LAUNCH OF A THIRD EMPLOYEE SHARE OWNERSHIP PLAN
Clichy, 17 May 2022 – L’Oréal is announcing the launch of its third Employee Share Ownership Plan.
The plan will be rolled out in 63 countries and will give L’Oréal employees, in France and internationally, the possibility to be even more closely linked to the Group’s development.
For this third plan, Nicolas Hieronimus, CEO of L’Oréal, has announced: “After the success of the first two operations in 2018 and 2020, which enabled some 30,000 employees to demonstrate their commitment and confidence in the future growth and values of our Group, we are again pleased to offer them this year another opportunity to strengthen their link with L’Oréal’s future financial and extra-financial success. This third Employee Share Ownership Plan is a new opportunity to allow those who wish to do so to join a great collective adventure and participate in a common project, our sense of purpose: Create the beauty that moves the world.”
The share purchase price will be set on 3 June 2022. 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 8 June to 22 June 2022, and settlement (payment-delivery) is planned for 26 July 2022.
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.
For over 110 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 inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 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.