Cargotec's Board of Directors has decided to exercise the authorization of the Annual General Meeting on March 5, 2009 to acquire the Company's own shares. The purchases will at the earliest start on March 16, 2009.
The maximum amount of own shares to be acquired will be less than ten percent of the Company's share capital and total voting rights. This corresponds to a maximum of 6,400,000 shares so that a maximum of 952,000 class A shares and 5,448,000 class B shares can be acquired. The above-mentioned amounts include the class B shares purchased during 2005-2008 already in the Company's possession, of which there are currently 2,990,725 such class B shares.
In accordance with the authorization the shares will be acquired in order to develop the capital structure of the Company, finance or carry out possible acquisitions, implement the Company's share-based incentive plans, or to be transferred for other purposes or to be cancelled.
Class B shares will be purchased at public trading in the NASDAQ OMX Helsinki at the market price. Class A shares will be purchased outside the Stock Exchange at the price equivalent to the average price of class B shares paid in the NASDAQ OMX Helsinki on the purchase date. Share repurchases will be published on the transaction days through stock exchange announcements. Information on repurchased shares is also available on the Company's internet pages at www.cargotec.com/investors.
For further information, please contact:
Kari Heinistö, Senior Executive Vice President, Secretary to Board of Directors,
tel. +358 204 55 4256
Eeva Sipilä, CFO, tel. +358 204 55 4281
Minna Karhu, Vice President, Corporate Communications, tel. +358 204 55 4630
Cargotec improves the efficiency of cargo flows by offering handling systems and the related services for the loading and unloading of goods. Cargotec's brands, Hiab, Kalmar and MacGREGOR, are global market leaders in their fields and their solutions are used on land and at sea - wherever cargo is on the move. Extensive services close to customers ensure the continuous usability of equipment. Cargotec is the technology leader in its field, its R&D focusing on innovative solutions that take environmental considerations into account. Cargotec's sales total EUR 3.4 billion and it employs approximately 12,000 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki.
www.cargotec.com
The maximum amount of own shares to be acquired will be less than ten percent of the Company's share capital and total voting rights. This corresponds to a maximum of 6,400,000 shares so that a maximum of 952,000 class A shares and 5,448,000 class B shares can be acquired. The above-mentioned amounts include the class B shares purchased during 2005-2008 already in the Company's possession, of which there are currently 2,990,725 such class B shares.
In accordance with the authorization the shares will be acquired in order to develop the capital structure of the Company, finance or carry out possible acquisitions, implement the Company's share-based incentive plans, or to be transferred for other purposes or to be cancelled.
Class B shares will be purchased at public trading in the NASDAQ OMX Helsinki at the market price. Class A shares will be purchased outside the Stock Exchange at the price equivalent to the average price of class B shares paid in the NASDAQ OMX Helsinki on the purchase date. Share repurchases will be published on the transaction days through stock exchange announcements. Information on repurchased shares is also available on the Company's internet pages at www.cargotec.com/investors.
For further information, please contact:
Kari Heinistö, Senior Executive Vice President, Secretary to Board of Directors,
tel. +358 204 55 4256
Eeva Sipilä, CFO, tel. +358 204 55 4281
Minna Karhu, Vice President, Corporate Communications, tel. +358 204 55 4630
Cargotec improves the efficiency of cargo flows by offering handling systems and the related services for the loading and unloading of goods. Cargotec's brands, Hiab, Kalmar and MacGREGOR, are global market leaders in their fields and their solutions are used on land and at sea - wherever cargo is on the move. Extensive services close to customers ensure the continuous usability of equipment. Cargotec is the technology leader in its field, its R&D focusing on innovative solutions that take environmental considerations into account. Cargotec's sales total EUR 3.4 billion and it employs approximately 12,000 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki.
www.cargotec.com