KONECRANES PLC STOCK EXCHANGE RELEASE February 6, 2020 at 9:10
The Board of Directors of Konecranes Plc decided to continue the Employee Share Savings Plan
Konecranes Plc’s Annual General Meeting of Shareholders 2012 decided to implement an Employee Share Savings Plan (the Plan) in the Konecranes Group.
On the basis of interest shown by the Group employees, the Board has decided to launch a new Plan Period. The new plan period will begin on July 1, 2020 and end on June 30, 2021. The maximum savings amount per participant during one month is 5 percent of gross salary and the minimum is EUR 50. Each participant will receive one free matching share for every two acquired savings shares. Matching shares will be delivered to a participant if the participant holds the acquired shares from the plan period until the end of the designated holding period, February 1, 2024, and if his or her employment has not ended before this date for reasons related to the employee. The total amount of all savings of the commencing plan period may not exceed EUR 8.5 million. The terms and conditions of the Plan Period 2020—2021 are unchanged from the previous Plan Periods.
An employee will participate in the Plan for one year at a time. Shares will be acquired with the accrued savings at the market price quarterly, after the publication dates of the Konecranes interim results, commencing in October 2020. Any dividends paid on purchased shares during the commencing Plan period will automatically be reinvested into additional shares on the following purchase date. These shares will have an equal right to matching shares.
The Board of Directors proposes to the Annual General Meeting of Shareholders to be held on March 26, 2020, that the Board of Directors be authorized to decide on directed share issue without payment needed for the implementation of the Plan.
Vice President, Investor Relations
Mr. Eero Tuulos, Vice President, Investor Relations, tel. +358 20 427 2050
Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. In 2019, Group sales totaled EUR 3.33 billion. Including MHE-Demag, the Group has around 18,000 employees in 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).