CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 23 MARCH 2023 AT 4:00 PM (EST)
Cargotec's transfer of own shares based on incentive programmes
The Board of Directors of Cargotec Corporation has today on 23 March 2023 decided on a directed share issue related to the reward payments for share-based incentive programmes. In the share issue, 224,797 own class B shares held by the company will be transferred on Friday 31 March 2023 without consideration to the key employees participating in the share-based incentive programmes in accordance with the programme-specific terms and conditions.
The share reward payments are related to the performance period 2020-2022 of Cargotec's share-based incentive programme, 2020–2022 restricted shares programme, first instalment of the restricted share programme 2022–2024 and first instalment of the restricted share unit programme 2022–2024. More detailed information about the launch and the terms and conditions of these programmes are available in the stock exchange releases published on 6 February 2020 and 13 May 2022.
After the transfer of shares, Cargotec holds a total of 7,043 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 23 March 2023. 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
Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670
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 has signed the United Nations Global Compact Business Ambition for 1.5°C. The company's sales in 2022 totalled approximately EUR 4 billion and it employs around 11,500 people. www.cargotec.com
