Verallia continues its commitment to value sharing by finalizing the 9th edition of its employee shareholding offer
Verallia, the world’s 3rd-largest producer of glass packaging for food and beverages, has successfully completed its 9th employee shareholding offer. On June 20, 2024, over 3,800 employees, including 73% of French employees, subscribed to this program and became partners in the Group’s development and performance. Open from May 2 to May 17, 2024, in 9 countries, this program enabled them to benefit from exclusive conditions for acquiring a stake in the Group’s capital – a 15% discount on the share price and a favorable matching contribution plan.
Following on from previous years, this 9th edition confirms the success of the Group’s CSR strategy, by involving its employees in the company’s development and performance. By the close of business on June 20, 2024, more than 3,800 employees, or 41% of eligible employees in 9 countries, had invested in the Group, benefiting from an attractive unit subscription price of 29.64 euros[1]. Total employee investment (including the Company’s matching contribution) came to over 18.1 million euros.
At the close, 611,445 new ordinary shares, representing 0.5% of the share capital and voting rights, were issued by the Company. As in previous years, in order to neutralize the dilutive effect of this operation, the Company also reduced its capital by cancelling 611,445 treasury shares acquired under the share buyback program[2].
In just 9 years, these operations have already enabled almost 50% of the Group’s employees to become Verallia shareholders, and more than 80% of French employees, both directly and through the Verallia FCPE. Employees now own 4.5%[3] of the Company’s capital.
“The strong participation of our employees in this employee shareholding program reflects their confidence in Verallia’s strategy and strong CSR ambitions. We are very proud that in 9 years, these operations have already enabled almost 50% of them worldwide, and more than 80% in France, to become direct and indirect shareholders in the company by acquiring almost 4.5% of the capital during this period. This scheme demonstrates once again that we are firmly committed to sharing value,” stated Patrice Lucas, CEO Verallia.
[1]i.e. a 15% discount to the average Verallia share price on the Euronext Paris regulated market over the twenty trading days preceding April 30, 2024.
[2] Capital increase in par value of 2,066,684.10 euros, with additional paid-in capital of 16,056,545.70 euros. The 611,445 new ordinary shares carry immediate dividend rights, have the same rights and obligations as shares already issued, and have the same rights to any sums that may be distributed, without restriction or reservation. Capital reduction through cancellation of 611,445 treasury shares acquired under the share buyback of November 3, 2021. The Company’s share capital remains unchanged, with the number of shares issued corresponding to the number of shares cancelled. It amounts to 408,321,248.14 euros and is made up of 120,805,103 ordinary shares with a par value of 3.38 euros each.
[3] Post employee share offering 2024 and after capital increase and reduction