CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 8 FEBRUARY 2024 AT 3:00 PM (EET)
Cargotec will start to repurchase own shares
Cargotec Corporation's Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 23 March 2023 to repurchase the company's own shares. Cargotec will repurchase 150,000 class B shares to be used as reward payments for Cargotec's share-based incentive programmes. The shares will be purchased at public trading on Nasdaq Helsinki Ltd. at the market price. The repurchases will start on 9 February 2024 at the earliest. According to the authorisation given to the Board of Directors by the Annual General Meeting, the maximum number of shares that can be acquired is 952,000 class A shares and 5,448,000 class B shares. Based on the authorisation, Cargotec has repurchased 400,000 own class B shares.
On 8 February 2024, Cargotec held a total of 407,043 own class B shares.
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 2023 totalled approximately EUR 4.6 billion and it employs around 11,400 people. www.cargotec.com
