Cargotec to repurchase own shares for reward payments of incentive programmes

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 16 SEPTEMBER 2015 AT 9.30 AM EEST

 

 

Cargotec Corporation's Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 18 March 2015 to repurchase company's own shares. Cargotec will repurchase maximum 100,000 class B shares to be used as reward payments for Cargotec's share-based incentive programme 2014 and for Cargotec's  restricted share grants 2015 and 2016. Payments and grants will be realised as per their respective terms and conditions, starting on 1 March 2016 at the earliest.

 

The shares will be purchased at public trading on NASDAQ OMX Helsinki Ltd at the market price. The repurchases will start on 17 September 2015 at the earliest. According to the authorisation given to the Board of Directors by the Annual General Meeting, the maximum amount of shares that can be acquired is 952,000 class A shares and 5,448,000 class B shares.

 

Eeva Sipilä, Executive Vice President, CFO, tel. +358 20 777 4104

Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084

 

Cargotec shapes the cargo handling industry for the benefit of its customers and shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Their global network is positioned close to customers and offers extensive services that ensure a continuous, reliable and sustainable performance according to customers' needs. Cargotec's sales totalled approximately EUR 3.4 billion in 2014 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki Ltd under symbol CGCBV. www.cargotec.com