Decisions Taken at Cargotec Corporation’s Annual General Meeting
Stock Exchange Release, March 5, 2009 at 3:50 p.m. Finnish time
Cargotec Corporation’s Annual General Meeting was held today, March 5, 2009 in Helsinki.
The Annual General Meeting approved a dividend of EUR 0.59 per each of class A shares and EUR 0.60 per each of class B shares outstanding be paid. The dividend will be paid to shareholder who on the record date for dividend distribution, March 10, 2009, is registered as shareholder in the Company’s share register. The dividend payment date is March 17, 2009.
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 January 1–December 31, 2008.
The number of the members of the Board of Directors was confirmed at six according to the proposal of the Board’s Nomination and Compensation Committee. Tapio Hakakari, Ilkka Herlin, Peter Immonen, Karri Kaitue, Antti Lagerroos and Anja Silvennoinen were elected to the Board of Directors. The meeting decided according to the proposals of Nomination and Compensation Committee that a yearly remuneration of EUR 80,000 be paid for the Chairman, EUR 55,000 for the Deputy 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 per cent of the yearly remuneration of the members of the Board will be paid in Cargotec Corporation’s class B shares and the rest in money.
Authorized public accountants Johan Kronberg and PricewaterhouseCoopers Ltd were re-elected as auditors according to the proposal of the Audit Committee of Cargotec Corporation’s Board of Directors. The auditors’ fees were decided to be paid according to invoice.
The Annual General Meeting authorised the Board of Directors of Cargotec to decide on acquisition of own shares with non-restricted equity. The shares may 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. 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 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 share issue can be directed and it is to be used to as compensation in acquisitions and in other arrangements, to finance acquisitions or for personnel incentive purposes. Both authorisations shall remain in effect for a period of 18 months from the date of decision of the Annual General Meeting.
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.