Konecranes Plc’s Annual General Meeting of Shareholders 2012 decided to implement an Employee Share Savings Plan (the Plan) in the Konecranes Group. There have been altogether four Plan Periods since 2012. Each of the Plan Periods has had approximately 1,500 participants from 35 countries on average. More than 300,000 Konecranes Plc shares have been bought by the participants since 2012 as part of the Plan.
On the basis of interest shown by the Group employees, the Board has decided to launch a new Plan Period. The new plan period will begin on September 1, 2016 and end on June 30, 2017. The maximum savings amount per participant during one month is 5 percent of gross salary and the minimum is EUR 50. Each participant will receive one free matching share for every two acquired savings shares. Matching shares will be delivered to a participant if the participant holds the acquired shares from the plan period until the end of the designated holding period, February 15, 2020, and if his or her employment has not ended before this date for reasons related to the employee. The total amount of all savings of the commencing plan period may not exceed EUR 8.5 million. The terms and conditions of the Plan Period 2016—2017 are unchanged from the previous Plan Periods.
An employee will participate in the Plan for one year at a time. Shares will be acquired with the accrued savings at the market price quarterly, after the publication dates of the Konecranes interim results, commencing in October 2016. Any dividends paid on purchased shares during the commencing Plan period will automatically be reinvested into additional shares on the following purchase date. These shares will have an equal right to matching shares.
“The Employee Share Savings Plan has been appreciated, and a significant number of our employees have become shareholders in Konecranes. Based on good experiences, we are happy to continue the Plan. We believe that the Plan will enhance our employee engagement throughout the world and at all levels of our organization”, says Mr. Panu Routila, the President and CEO.
KONECRANES PLC
Miikka Kinnunen
Director, Investor Relations
FURTHER INFORMATION
Mr 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 2015, Group sales totaled EUR 2,126 million. The Group has 11,600 employees at 600 locations in 48 countries. Konecranes is listed on the Nasdaq Helsinki (symbol: KCR1V).
DISTRIBUTION
Nasdaq Helsinki
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www.konecranes.com