Schneider Electric Announces Employee-Dedicated Capital Increase

Schneider Electric SE has officially declared a new capital increase, specifically aiming at its workforce. This initiative, set in motion in Rueil-Malmaison, France, aligns with the company’s commitment to enhancing employee shareholding. It is part of the Group Employee Savings Plans, presented to employees in forty-five countries, covering about 90% of the group's workers. The subscription phase is scheduled from April 19 to May 13, 2024, with shares expected to be delivered on July 10 of the same year.

This capital raise was greenlit following a decision by the Board of Directors, based on resolutions passed during the Annual Shareholders’ Meeting on May 4, 2023. It allows the issuance of new shares under favorable conditions to eligible employees, aiming to deepen their connection with the company’s achievements and prospective growth. Participating employees can acquire shares at 85% of the Reference Price, through direct subscriptions or via a company savings plan fund, with a mandatory hold period extending until June 30, 2029, barring specific early exit circumstances.

The planned capital increases, delegated to the Chief Executive Officer, will encompass up to approximately 0.65% of the share capital as of December 31, 2023. This move not only seeks to invest employees in the Group’s fortune but also reinforces their stake in its governance, albeit indirectly through a supervisory board in case of collective investment schemes. Both the capital increase and new shares' listing on the Euronext Paris market are affirmed to complete by July 10, 2024.