Verallia Empowers Employees: Successful Completion of 8th Employee Shareholding Program
Verallia, the world’s 3rd largest manufacturer of glass packaging for food and beverages, proudly announces the successful completion of its 8th employee shareholding offer. Demonstrating the company’s commitment to its strategy and corporate social responsibility (CSR) goals, the program garnered significant participation from employees across nine countries.
Impressive Employee Engagement
The 8th edition of Verallia’s employee shareholding offer witnessed exceptional engagement, with more than 3,600 employees participating, representing 41% of eligible employees in nine countries. Notably, 76% of French employees enthusiastically embraced this opportunity. With an attractive unit subscription price of EUR 30.45, the total investment by Verallia’s employees, including the company’s matching contribution, exceeds EUR 18.6 million.
Exclusive Conditions for Employee Ownership
During the program, which was open from May 3 to 17, 2023, Verallia’s employees enjoyed exclusive conditions to join the company’s share capital. They benefited from a 20% discount on the share price and a favorable matching contribution plan, showcasing Verallia’s dedication to fostering employee ownership.
Positive Outcome
Following the program’s conclusion, the company issued 611,445 new ordinary shares, equivalent to 0.5% of the share capital and voting rights. To neutralize any dilutive effects, Verallia simultaneously reduced its capital by canceling 611,445 treasury shares acquired through the share buyback program.
Empowering More Employees
Over the past eight years, Verallia’s employee shareholding programs have enabled more than 48% of the company’s workforce to become shareholders, including 88% of French employees through the Verallia FCPE. This strong employee ownership further solidifies the company’s commitment to sharing value and engaging employees in its strategic objectives. Currently, employees hold 4.2% of Verallia’s capital.
CEO’s Vision
Verallia’s CEO, Patrice Lucas, emphasizes the significance of the program, stating, “This scheme is rooted in the Group’s DNA and demonstrates once again that we are resolutely committed to sharing value.” By involving employees in the company’s journey, Verallia empowers them to actively contribute to its success. The employee shareholding program aligns with Verallia’s economic and financial objectives, while fostering capital stability. With a target of reaching 5% employee share ownership by 2025, Verallia continues to prioritize the involvement and welfare of its employees.
Source: Verallia with additional information added by GlassBalkan
