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Stock Exchange Release

Decisions taken at Cargotec's Annual General Meeting 2017

21/03/2017

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 21 MARCH 2017 AT 2.30 PM (EET)
 
Decisions taken at Cargotec's Annual General Meeting 2017

Cargotec Corporation's Annual General Meeting was held today, 21 March 2017 in Helsinki.
 
The Annual General Meeting approved a dividend of EUR 0.94 be paid for each of class A shares and a dividend of EUR 0.95 be paid for each of class B shares outstanding. The dividend will be paid to shareholders who on the record date for dividend distribution, 23 March 2017, are registered as shareholders in the company's shareholder register. The dividend payment date is 30 March 2017.
 
The meeting adopted the financial statements and consolidated financial statements. The meeting granted discharge from liability to the CEO and the members of the Board of Directors for the accounting period 1 January-31 December 2016.
 
The Annual General Meeting approved that the Articles of Association of the company be changed regarding the number of regular and deputy members of the Board of Directors. The minimum number of members is changed to six (6), the maximum to twelve (12), and there will be no deputy members. 
 
The number of the Board members was confirmed at ten. Kimmo Alkio, Jorma Eloranta, Tapio Hakakari, Ilkka Herlin, Peter Immonen, Kaisa Olkkonen, Teuvo Salminen and Heikki Soljama were re-elected to the Board of Directors, and Teresa Kemppi-Vasama and Johanna Lamminen were elected as new members. The meeting decided a yearly remuneration of EUR 85,000 be paid to the Chairman of the Board, EUR 60,000 to the Vice Chairman, EUR 60,000 to the Chairman of the Audit and Risk Management Committee and EUR 45,000 to the other Board members. In addition, members are paid EUR 1,000 for attendance at board and committee meetings. 30 percent of the yearly remuneration will be paid in Cargotec's class B shares and the rest in cash, and Cargotec will cover the transfer taxes related to the Board remuneration paid in shares.
 
The Annual General Meeting elected accounting firm PricewaterhouseCoopers Oy and authorised public accountant Tomi Hyryläinen as auditors. The auditors' fees were decided to be paid according to their invoice reviewed by the company.
 
The Annual General Meeting authorised the Board to decide on the repurchase of Cargotec's shares with non-restricted equity. Altogether no more than 6,400,000 shares in the company may be purchased, of which no more than 952,000 are class A shares and 5,448,000 are class B shares. This authorisation shall remain in effect for a period of 18 months from the resolution by the general meeting and it will supersede the previous one.
 
 
For further information, please contact:
Mikko Puolakka, Executive Vice President and CFO, tel. +358 20 777 4105
Outi Aaltonen, Senior Vice President, General Counsel, tel. +358 20 777 4020
 
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 2016 totalled approximately EUR 3.5 billion and it employs over 11,000 people. www.cargotec.com