Shares

Cargotec has no valid option programmes. Details of the two expired option programmes are below. 

Option programme 2010

The Annual General Meeting 2010 confirmed that stock options will be issued to the key personnel of Cargotec and its subsidiaries. The maximum total number of stock options issued was 1,200,000 and the stock options entitled their owners to subscribe for a maximum total of 1,200,000 new class B shares in Cargotec.

The share subscription price was be based on the volume weighted average price of the company’s class B share on the Nasdaq Helsinki Ltd during two full weeks following the Annual General Meeting in 2010, 2011 and 2012. Dividends paid annually were deducted of subscription price. The beginning of the share subscription period required attainment of targets established for a financial criterion determined by the Board of Directors annually. 

The stock options 2010A and 2010B were issued in the Finnish paperless book-entry system and listed on the main list of Nasdaq Helsinki Ltd. 

A total of 378,864 stock options 2010B and a total of 400,000 stock options 2010C held by Cargotec have been cancelled, as the earnings criteria for the stock options were not fulfilled.

Option programme 2005

Cargotec's option program was based on the demerged Kone Corporation's 2004 option programme under which holders of Option Rights under the KONE 2004 Option Program received New Option Rights pursuant to the Demerger as follows:

• each series A Option Right of Kone Corporation was converted into one (1) Cargotec 2005A Option Right and one (1) series A New KONE Option Right; and
• each series B Option Right of Kone Corporation was converted into one (1) Cargotec 2005B Option Right and one (1) series B New KONE option right.