Verallia, the world’s 3rd largest manufacturer of glass packaging for food and beverages, has successfully completed its 8th employee shareholding offer.
Proof of the success of its strategy and its strong CSR ambitions, Verallia has achieved an excellent 8th edition of its employee shareholding offer. By the close of business on June 22, 2023, over 3,600 employees, or 41 percent of eligible employees in 9 countries (and 76 percent of French employees), had invested in the Group, benefiting from an attractive unit subscription price of EUR 30.45. Total investment by Group employees (including the Company’s matching contribution) thus amounts to over EUR 18.6 million.
This programme opened from May 3 to 17, 2023, and it afforded Verallia’s employees exclusive conditions to join the Group’s share capital – i.e. a 20 percent discount on the share price and a favourable matching contribution plan.
At the close, 611,445 new ordinary shares, representing 0.5 percent of the share capital and voting rights, had been issued by the Company. As in previous years, in order to neutralize the dilutive effect of this operation, the Company simultaneously reduced its capital by cancelling 611,445 treasury shares acquired under the share buyback programme.
In just 8 years, these operations have already enabled more than 48 percent of Group employees to become Verallia shareholders, and 88 percent of French employees, directly and through the Verallia FCPE. Employees now hold 4,2 percent of the Company’s capital.
In the words of Verallia’s CEO, Patrice Lucas, “This scheme is rooted in the Group’s DNA and demonstrates once again that we are resolutely committed to sharing value. By involving our employees, we give them the opportunity to participate more fully in the life of our company, and to take an interest in the successful implementation of our strategy. Among other things, this operation also enables us to involve our employees in our economic and financial objectives, and to reinforce the stability of our capital. We also stay on our target to reach 5 percent employee share ownership by 2025.”