CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 31 MARCH 2016 AT 8.30 AM (EEST)
Cargotec's transfer of own shares based on incentive programme
The Board of Directors of Cargotec Corporation has on 22 March 2016 decided on a directed share issue related to the reward payment for the restricted shares programme 2015 under Cargotec's share-based incentive programme 2014.
In the share issue, 27,601 own class B shares held by the company have been transferred without consideration to the key employees participating in the restricted shares programme 2015 in accordance with the terms and conditions of the share-based incentive programme 2014. More detailed information about the launch and the terms and conditions of the programme is available in a stock exchange release published on 4 February 2014.
After the transfer of shares, Cargotec holds a total of 65,099 own class B shares.
The decision on the directed share issue is based on the authorisation granted to the Board of Directors by the Annual General Meeting on 18 March 2014. According to the authorisation, the Board of Directors can decide on a share issue amounting to a maximum of 952,000 class A shares and 5,448,000 class B shares. In accordance with the authorisation, previously 26,684 own class B shares were transferred on 18 March 2014 and 28,030 own class B shares on 31 March 2015.
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 (Nasdaq Helsinki: CGCBV) is a leading provider of cargo and load handling solutions with the goal of becoming the leader in intelligent cargo handling. Cargotec's business areas Kalmar, Hiab and MacGregor offer products and services that ensure our customers a continuous, reliable and sustainable performance. Cargotec's sales in 2015 totalled approximately EUR 3.7 billion and it employs almost 11,000 people. www.cargotec.com