KONECRANES PLC STOCK EXCHANGE RELEASE February 4, 2015 at 10.00
In 2012, the Board of Directors of Konecranes Plc resolved to implement a performance share plan according to which earning reward is based on attainment of targets determined by the Board of Directors. The aim of the plan was to combine the objectives of the shareholders and key employees in order to increase the value of the Company, to commit key employees to the Company, and to offer them a competitive reward plan based on long-term shareholding in the Company.
The Board of Directors of Konecranes Plc has resolved on a new three-year plan with the same aim. The plan consists of one three-year discretionary period. Earning during the three-year discretionary period beginning on 1 January 2015 will be based on the Konecranes Group´s cumulative EPS excluding restructuring costs. The potentially earned reward will be paid in spring 2018. If a key employee’s employment or service ends before the end of the discretionary period, no reward will be paid on the basis of such discretionary period.
The target group of the Plan consists of approximately 180 people. The rewards to be paid on the basis of the discretionary period beginning on 1 January 2015 correspond to the value of an approximate maximum total of 700,000 Konecranes Plc shares. If the targets determined by the Board of Directors are achieved, the reward payout will be a half of the maximum reward. The maximum reward payout requires that the targets are clearly exceeded.
The Board of Directors proposes to the Annual General Meeting of Shareholders to be held on March 26, 2015, that the Board of Directors be authorized to decide on issuance of shares or transfer of own shares needed for the implementation of the performance share plan.
KONECRANES PLC
Miikka Kinnunen
Director, Investor Relations
FURTHER INFORMATION
Miikka Kinnunen, Director, Investor Relations, tel. +358 20 427 2050
Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity-enhancing lifting solutions as well as services for lifting equipment and machine tools of all makes. In 2014, Group sales totaled EUR 2,011 million. The Group has 12,000 employees at 600 locations in 48 countries. Konecranes is listed on the Nasdaq Helsinki (symbol: KCR1V).
DISTRIBUTION
Nasdaq Helsinki
Major media
www.konecranes.com