Vested interest: L’Oréal launches Employee Share Ownership Plan worldwide
L’Oréal has announced the launch of its first Employee Share Ownership Plan. The plan will be rolled out in 52 countries, granting L’Oréal employees the world over the opportunity to be even more closely invested in the group’s success.
“L’Oréal has always intended that its employees benefit from the group’s success and prosperity,” said Jean-Paul Agon, Chairman and CEO. “This first employee share ownership plan will give employees who want to participate a new way to support the company’s development and be involved in its strategic projects.”
The share purchase price will be set on June 1, and be equal to the average opening price of L’Oréal shares on the Euronext Paris exchange over the 20 trading days prior. The plan is limited to 500,000 shares and the subscription period will run from June 4 to June 18. Shares issued under the plan will be entitled to dividends and rank pari passu with existing shares from the time of issue.
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