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Stock Exchange Release

Decisions taken at Cargotec's Annual General Meeting 2018

20/03/2018

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 20 MARCH 2018 AT 2.30 PM (EET)
Decisions taken at Cargotec's Annual General Meeting 2018
 
Cargotec Corporation's Annual General Meeting was held today, 20 March 2018 in Helsinki.
 
The Annual General Meeting approved a dividend of EUR 1.04 be paid for each of class A shares and a dividend of EUR 1.05 be paid for each of class B shares outstanding. The dividend shall be paid in two instalments, in March and September 2018. 
 
The first instalment shall be paid to shareholders who on the record date for dividend distribution, 22 March 2018, are registered as shareholders in the company's shareholder register. The dividend payment date is 29 March 2018. The second instalment shall be paid in September 2018, and it shall be paid to shareholders who are registered as shareholders in the company's shareholder register on the dividend record date, which, together with the payment date, shall be confirmed by the Board of Directors in its meeting scheduled for 18 September 2018.
 
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 2017.
 
The number of the Board members was confirmed at ten. The current Board members Kimmo Alkio, Jorma Eloranta, Tapio Hakakari, Ilkka Herlin, Peter Immonen, Teresa Kemppi-Vasama, Johanna Lamminen, Kaisa Olkkonen, Teuvo Salminen and Heikki Soljama were re-elected to the Board of Directors. The yearly remunerations stayed unchanged: 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 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. The 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) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2017 totalled approximately EUR 3.3 billion and it employs over 11,000 people. www.cargotec.com