Launched on September 15, 2021, the "Together 2021" employee share ownership plan was adopted by 64,000 subscribers in 37 countries (1). Thanks to this broad participation, employee share ownership within the group will reach over 7% of Orange capital by the end of 2021.
The subscription price was set at €6.64 per share. This corresponds to the average daily Orange share price over the 20 trading sessions from October 5 to November 1, 2021, to which a 30% discount was applied.
This 12th share ownership plan is the biggest employee share ownership plan. Through these schemes, employee shareholders play an active role in company governance, either directly or via the supervisory boards of employee shareholding funds.
On presenting the results of this offering, Stéphane Richard, Chairman and CEO of the Orange Group, said: "By oversubscribing to Together 2021, our employees have demonstrated the trust they have in the Group's development and our ability to make the Engage 2025 strategic plan a success. This result enables us to pass another milestone in our aim to ultimately achieve 10% employee share ownership."
Together 2021 follows the communication on December 2, 2020 announcing the Group had received €2.2 million from a favorable decision by the French Council of State regarding a long-standing tax dispute. This employee shareholding scheme had a maximum subscription limit worth €260 million (indicated as price of share before 30% discount).
According to the scheme's initial timeline, the shares will be delivered on December 1, 2021 and will be available on June 1, 2026.
(1) 37 countries involved: Belgium, Botswana, Brazil, Burkina Faso, Cameroon, CAR, Colombia, Côte d’Ivoire, DRC, Egypt, France, Germany, Guinea, Guinea Bissau, India, Italy, Jordan, Liberia, Luxembourg, Madagascar, Mali, Mauritius, Moldova, Morocco, Netherlands, Norway, Poland, Romania, Senegal, Sierra Leone, Singapore, Slovakia, Spain, Sweden, Switzerland, UK, USA.