11.05.2018 - 09:00
KONECRANES PLC STOCK EXCHANGE RELEASE May 11, 2018 at 9:00 am EET
DECISION ON KONECRANES PLC’S PERFORMANCE SHARE PLAN CRITERION 2018-2020
The Board of Directors has resolved that the performance criterion for the discretionary period 2018–2020 is the cumulative adjusted Earnings per Share (EPS) of the financial years 2018—2020. Adjustments to the EPS include defined restructuring costs, purchase price allocation amortization and certain other unusual items.
The target group of the plan consists of a maximum of 280 people during the discretionary period 2018—2020. The rewards to be paid on the basis of the discretionary period correspond to the value of a maximum total of 710,000 Konecranes Plc shares. If the target determined by the Board of Directors is attained, the reward payout may be a half of the maximum reward. The maximum reward payout requires that the target is clearly exceeded.
The Annual General Meeting of Shareholders held on March 27, 2018 authorized the Board of Directors to decide on the issue of shares or the transfer of own shares needed for the implementation of the performance share plan.
The launch and essential terms and conditions of the performance share plan have been published in a stock exchange release on June 16, 2017.
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 2017, Group sales totaled EUR 3,136 million. The Group has 16,200 employees at 600 locations in 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).