French environmental services organisation Veolia has introduced a new share scheme for its 140,000 employees.
Employees will be able to opt in to buy shares, based on the average share price on the French stock exchange set on 5 November 2020, minus an employee 20% discount and rounded up to the highest Euro, subject to the terms and conditions outlined by the organisation.
Employees have the option of subscribing to shares under two offerings; a gross employer matching contribution, corresponding to 100% of their personal contribution up to a maximum of €300 (£272), including protection on their initial investment, and the potential increase of the share price. Alternatively, employees can choose the classic offering, where the employee can invest in Veolia Environment at 20% of the discounted price, however, this offering carries a risk of capital loss due to the upward and downward fluctuations of the Veolia share price. Employees in the UK have the option of investing in Veolia shares through a share incentive plan.
The plan is available for employees who have been at the business for at least three months, while former employees who are retired but still have assets within the business, are eligible for the classic offering plan.
A spokesperson at Veolia said: “This shareholding plan is part of Veolia’s policy of developing employee shareholding within the business. Through this plan, Veolia intends to associate its employees in France and abroad with the business’s development even more closely, by offering them the possibility of subscribing directly or indirectly for Veolia Environnement shares.
“Employees are encouraged to consider the diversification of their investment portfolio to ensure that the risk that they assume is not unduly concentrated on any single investment.”