The Board of Directors of Konecranes Plc proposes to the company’s Annual General Meeting of Shareholders that an Employee Share Savings Plan be launched in the Konecranes Group. The plan would be the first of its kind in Finland.
In the Employee Share Savings Plan, all employees of the Konecranes Group would be given the opportunity to save a portion of their salary for purchasing Konecranes shares. Participation in the plan would be encouraged by offering one free share for every two savings shares after a designated holding period.
Konecranes has been looking for a way to reward its staff that supports long-term commitment to the company. The aim of the Employee Share Savings Plan is to encourage Konecranes employees to become shareholders in the company, and to reward the employees for their efforts in working toward Konecranes’ goals, now and in the future. Another objective is to strengthen the tie between Konecranes shareholders and employees.
“The battle for a competent and motivated workforce is intensifying all the time. I hope that this plan, if approved by the AGM, will create incentives for as many employees as possible to become long-term shareholders in Konecranes. This would be a great way to align the interests of our shareholders with those who generate the results,” comments Pekka Lundmark, President and CEO of Konecranes.
Participation in the plan is voluntary, and the intention is that employees will participate in the plan for one year at a time. The maximum amount that can be saved for purchasing savings shares is 5 percent of the gross monthly salary for each participant.
The Board of Directors plans the first period of saving to commence on 1 July 2012. The Annual General Meeting of Shareholders of Konecranes Plc that will resolve on the Employee Share Savings Plan will be held on 22 March 2012. More detailed information on the plan is available in the Annual General Meeting Release issued on 2 February 2012.
Further information
Press
Mikael Wegmüller, Vice President, Marketing and Communications
E-mail: [email protected] or phone +358 20 427 2008
Investors and analysts
Miikka Kinnunen, Director, Investor relations
E-mail: [email protected] or phone +358 20 427 2050
This press release is available on our website www.konecranes.com
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 and machine tools of all makes. In 2011, Group sales totaled EUR 1,896 million. The Group has 11,700 employees, in 609 locations in 47 countries. Konecranes is listed on NASDAQ OMX Helsinki Ltd (symbol: KCR1V).
