CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 18 MARCH 2015 AT 5:25 PM (EET)
Cargotec to repurchase own shares for incentive programme reward payment
Cargotec Corporation's Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 18 March 2015 to repurchase company's own shares. Cargotec will repurchase 28,030 class B shares to be used as reward payment for the restricted shares programme 2014 under Cargotec's share-based incentive programme 2014. The shares will be purchased at public trading on NASDAQ OMX Helsinki Ltd at the market price. The repurchases will start on 19 March 2015 at the earliest.
According to the authorisation given to the Board of Directors by the Annual General Meeting, the maximum amount of shares that can be acquired is 952,000 class A shares and 5,448,000 class B shares.
For further information, please contact:
Eeva Sipilä, Executive Vice President and CFO, tel. +358 20 777 4104
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084
Cargotec shapes the cargo handling industry for the benefit of its customers and shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Their global network is positioned close to customers and offers extensive services that ensure a continuous, reliable and sustainable performance according to customers' needs. Cargotec's sales totalled approximately EUR 3.4 billion in 2014 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki Ltd under symbol CGCBV. www.cargotec.com