Decisions taken at Cargotec Corporation's Annual General Meeting
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 19 MARCH 2012 AT 2.25 PM EET
Cargotec Corporation's Annual General Meeting was held today, 19 March 2012 in Helsinki.
The Annual General Meeting approved a dividend of EUR 0.99 per each of class A shares and EUR 1.00 per each of class B shares outstanding be paid. The dividend will be paid to shareholder who on the record date for dividend distribution, 22 March 2012, is registered as shareholder in the company's share register. The dividend payment date is 29 March 2012.
The meeting approved the financial statements and consolidated financial statements. The meeting granted discharge from liability to the President and CEO and the members of the Board of Directors for the accounting period 1 January-31 December 2011.
The number of the members of the Board of Directors was confirmed at seven. Tapio Hakakari, Ilkka Herlin, Peter Immonen, Karri Kaitue, Antti Lagerroos, Teuvo Salminen and Anja Silvennoinen were re-elected to the Board of Directors. The meeting decided the yearly remuneration for the Board of Directors as follows: EUR 80,000 for the Chairman, EUR 55,000 for the Vice Chairman and EUR 40,000 for the other Board members. In addition, it was decided that members receive EUR 500 for attendance at Board and Committee meetings. The meeting decided that 30 percent of the yearly remuneration of the members of the Board will be paid in Cargotec's class B shares and the rest in cash.
The Annual General Meeting elected authorised public accountants Jouko Malinen and PricewaterhouseCoopers Ltd as auditors. The auditors' fees were decided to be paid according to invoice.
The Annual General Meeting authorised the Board of Directors to decide on the repurchase of own shares with non-restricted equity. Altogether no more than 6,400,000 own shares may be purchased, of which no more than 952,000 are class A shares and 5,448,000 are class B shares. The authorisation shall remain in effect for a period of 18 months from the resolution by the Annual General Meeting.
The Annual General Meeting authorised the Board to decide on issuance of a maximum of 6,400,000 treasury shares, of which no more than 952,000 are class A shares and 5,448,000 are class B shares, in one or more lots. The authorisation shall remain in effect for a period of five years from the date of decision of the Annual General Meeting.
For further information please contact:
Outi Aaltonen, Senior Vice President, General Counsel, Secretary of the Board, tel. +358 20 777 4020
Eeva Sipilä, Executive Vice President, CFO, tel. +358 20 777 4104
Anne Westersund, Vice President, Communications and Marketing, tel. +358 20 777 4460