Rémy Cointreau Has Successfully Launched Its First International Employee Share Ownership Plan, “My Rémy Cointreau”

Rhea-AI Summary

On August 22, 2022, Rémy Cointreau announced its first international employee share ownership plan named My Rémy Cointreau. This initiative saw half of eligible employees participating, reflecting strong commitment to the company's future. CEO Eric Vallat expressed satisfaction with the high subscription levels, attributing it to employee confidence in long-term growth. Following the plan, 12,054 new shares were issued on October 27, 2022, increasing employee shareholding to 0.7% of the capital. The company aims to lead in exceptional spirits by 2030.

Positive

• High employee subscription rate of 50% for the share ownership plan.
• Introduction of international employee share ownership strengthens workforce commitment.
• CEO's confidence in long-term growth potential enhances investor sentiment.
• Issuance of 12,054 new shares indicates expansion of employee ownership.

Negative

• None.

 

PARIS--(BUSINESS WIRE)-- Regulatory News:

On August 22, 2022, Rémy Cointreau (Paris:RCO) announced its first international employee share ownership plan, “My Rémy Cointreau”.

As a result, one out of two eligible employees has subscribed to this transaction.

Rémy Cointreau Chief Executive Officer Eric Vallat said: “We are very pleased with the results of this transaction. After the successful launch of the first employee share ownership plan in France in 2021, the high level of subscriptions from our employees outside France demonstrates the strong commitment of our teams and their confidence in the Group's long-term growth potential. This mark of attachment to Rémy Cointreau gives us confidence in the future. The Group intends to continue implementing its strategy for 2030 and aims to become the world leader in exceptional spirits.”

In the context of this transaction, 12,054 new shares were issued on October 27, 2022. They will be fully assimilated to the Rémy Cointreau shares already listed on Euronext Paris.

Following this share issue, employee shareholding in the company's capital, through the FCPE “My Rémy Cointreau” and in registered form, amounts to 0.7% based on the company's capital on October 27, 2022.

About Rémy Cointreau

All around the world, there are clients seeking exceptional experiences; clients for whom a wide range of terroirs means a variety of flavors. Their exacting standards are proportional to our expertise – the finely-honed skills that we pass down from generation to generation. The time these clients devote to drinking our products is a tribute to all those who have worked to develop them. It is for these men and women that Rémy Cointreau, a family-owned French Group, protects its terroirs, cultivates exceptional multi-centenary spirits and undertakes to preserve their eternal modernity. The Group’s portfolio includes 14 singular brands, such as the Rémy Martin and Louis XIII cognacs, and Cointreau liqueur. Rémy Cointreau has a single ambition: becoming the world leader in exceptional spirits. To this end, it relies on the commitment and creativity of its 1,924 employees and on its distribution subsidiaries established in the Group’s strategic markets. Rémy Cointreau is listed on Euronext Paris.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221027005450/en/

Investor Relations: Célia d'Everlange / investor-relations@remy-cointreau.com

Media relations: Carina Alfonso Martin / press@remy-cointreau.com

Source: Rémy Cointreau

FAQ

What is the My Rémy Cointreau employee share ownership plan?

The My Rémy Cointreau plan is Rémy Cointreau's first international employee share ownership initiative launched on August 22, 2022.

What percentage of employees subscribed to the My Rémy Cointreau plan?

Approximately 50% of eligible employees subscribed to the My Rémy Cointreau plan.

How many new shares were issued on October 27, 2022?

On October 27, 2022, a total of 12,054 new shares were issued as part of the employee share ownership plan.

What is the current employee shareholding percentage in Rémy Cointreau?

Following the share issue, employee shareholding represents 0.7% of Rémy Cointreau's capital.

What are Rémy Cointreau's ambitions for 2030?

Rémy Cointreau aims to become the world leader in exceptional spirits by 2030.