CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 31 MARCH 2020 AT 09:30 AM (EEST)
Cargotec's transfer of own shares based on incentive programmes
The Board of Directors of Cargotec Corporation has on 17 March 2020 decided on a directed share issue related to the reward payments for share based incentive programmes. The share reward payments are related to performance period 2018–2019 of Cargotec’s share-based incentive programme launched in 2017 and first matching period of matching share programme launched in 2019.
In the share issue, 73,067 own class B shares held by the company have been transferred today without consideration to the key employees participating in the share based incentive programmes in accordance with the programme specific terms and conditions. More detailed information about the launch and the terms and conditions of the programmes is available in stock exchange releases published on 8 February 2017 and on 20 February 2019.
After the transfer of shares, Cargotec holds a total of 231,261 own class B shares.
The decision on the directed share issue is based on the authorisation granted to the Board of Directors by the Annual General Meeting on 19 March 2019. According to the authorisation, the Board of Directors can decide on a share issue amounting to a maximum of 952,000 class A shares and 5,448,000 class B shares.
Cargotec Corporation
The Board of Directors
For further information, please contact:
Mikko Puolakka, Executive Vice President and CFO, tel. +358 20 777 4105
Hanna-Maria Heikkinen, Vice President, Investor Relations, tel. +358 20 777 4084
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 2019 totalled approximately EUR 3.7 billion and it employs around 12,500 people. www.cargotec.com