CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 3 JUNE 2020 AT 3:00 PM (EEST)
Cargotec's transfer of own shares
The Board of Directors of Cargotec Corporation has on 27 May 2020 decided on a directed share issue related to the Board members annual remuneration. In the share issue, in total 6,421 own class B shares held by the company have been transferred today without consideration to the Board members. According to the decision made in the Annual General Meeting on 27 May 2020, 30 percent of the Board members' yearly remuneration will be paid in Cargotec's class B shares.
After the transfer of shares, Cargotec holds a total of 224,840 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
