Elis Launches “Elis for All” Employee Share Plan for 2024
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Elis Launches “Elis for All” Employee Share Plan for 2024
Elis has unveiled an exciting initiative for 2024, the "Elis for All" employee share ownership plan, aiming to strengthen employee engagement and ownership within the company.
Details of the Offering
The primary goal of the "Elis for All" plan is to reinforce the sense of belonging among Elis employees and to facilitate their investment in the future of the company. This initiative reflects the commitment of Elis to enhance employee share ownership, thereby allowing employees to partake in the group's growth and success.
Issuance and Share Features
Elis, listed on the Euronext Paris regulated market, has developed this plan under the authorizations granted by the Extraordinary General Assembly. The Management Board has authorized two issuances of shares this year aimed at employees participating in the Groupe Elis Savings Plan and those working in foreign subsidiaries. Each component of the plan offers a substantial 30% discount on the reference price, and an employer matching contribution where one share will be offered for every ten shares subscribed.
Subscription Conditions
Eligibility for the offering is extended to employees meeting specific criteria, including a minimum seniority requirement. In France, employees with three months of seniority can participate, while those abroad must also meet this seniority requirement. The offering encompasses French entities and numerous foreign branches across various countries including Belgium, Brazil, and the UK among others.
Subscription Process and Pricing
The subscription price will be set by the Chairman of the Management Board prior to the opening of the subscription period based on the average opening price of the Elis share over the preceding twenty trading days, less the 30% discount. Employees can subscribe through a dedicated employee shareholding fund or directly, depending on their location.
Key Timelines
Employees can mark their calendars for the following important dates: the subscription pricing set for mid-September, followed by the subscription period from September to early October, and the completion of capital increases scheduled for November. These dates are subject to confirmation by the Management Board.
Impact on Employees
This innovative employee share ownership plan is designed to foster a culture of participation among staff at Elis. By enabling employees to invest in their own company, the plan not only offers a financial incentive but also aims to enhance loyalty and engagement. Through initiatives like these, Elis is committed to ensuring that its workforce feels valued and empowered in contributing to the organization’s success.
Frequently Asked Questions
What is the goal of the "Elis for All" plan?
The plan aims to enhance employee engagement and share ownership, allowing staff to be closely involved in the company’s growth.
Who is eligible to participate in the employee share plan?
All employees with a minimum of three months of seniority are eligible to participate, both in France and in various foreign subsidiaries.
What are the financial benefits of subscribing to the share plan?
Subscribers will enjoy a 30% discount on share prices and a matching contribution from the employer.
How will the subscription price be determined?
The price will be set based on average trading prices over the previous 20 days, with the 30% discount applied.
When is the subscription period for employees?
The subscription period is from September 17 to October 3, with definitive dates to be confirmed by the Management Board.
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