Large success for Faurecia’s first Employee Share Ownership plan
More than 22% of the employees across 15 countries have expressed their wish to invest in Faur’ESO 2021, far above benchmark, marking a large success for a first operation.
2021 being a year of new perspectives for Faurecia, we were willing to offer our employees, as key actors of our transformation and development, the possibility to take an even stronger part in our journey by becoming shareholders of Faurecia. The very high subscription rate to Faur’ESO demonstrates the confidence of our teams in our ability to create a sustainable future and their willingness to get associated to it. This is a particularly strong message in the context of the pandemic. This first employee shareholding plan brings employee share ownership above 2.6% of the capital.
In accordance with the terms of the plan, 2,760,716 shares, i.e. the maximum number of shares offered were subscribed at a unit price of 36.15 euros (corresponding to the reference price of 45.18 euros with a 20% discount) and will be created. The completion of the capital increases, for a global amount of 100 million euros, as well as the settlement-delivery of the shares are scheduled for July 28, 2021. As Faur’ESO is a non-dilutive plan, the 2,760,716 shares purchased through the share buyback program carried out from March 17 (included) to April 29 (included) will be cancelled to neutralize the dilution.
