Konecranes Plc’s Annual General Meeting of Shareholders 2012 decided to implement an Employee Share Savings Plan (the Plan) in the Konecranes Group. There have been altogether five Plan Periods since 2012. Each of the Plan Periods has had approximately 1,300 participants from 33 countries on average. Approximately 350,000 Konecranes Plc shares have been bought by the participants since 2012 as part of the Plan.
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, 2017 and end on June 30, 2018. 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 15, 2021, 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 2017—2018 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 2017. 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 23, 2017, that the Board of Directors be authorized to decide on directed share issue without payment needed for the implementation of the Plan.
“The Employee Share Savings Plan has been appreciated, and a significant number of our employees have become shareholders in Konecranes. With the MHPS acquisition now completed, the Plan is available to a record number of our employees. We believe that the Plan will enhance our employee engagement throughout the world and at all levels of our organization”, says Mr. Panu Routila, the President and CEO.
KONECRANES PLC
Miikka Kinnunen
Vice President, Investor Relations
FURTHER INFORMATION
Mr Miikka Kinnunen, 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. The Group has 18,000 employees at 600 locations in 50 countries. Konecranes class A shares are listed on the Nasdaq Helsinki (symbol: KCR).
DISTRIBUTION
Nasdaq Helsinki
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www.konecranes.com
