Cargotec will start to repurchase own shares

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 19 JULY 2018 AT 2.05 PM (EEST)

 

 

Cargotec Corporation's Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 20 March 2018 to repurchase company's own shares. Cargotec will repurchase maximum 150,000 class B shares to be used as reward payments for Cargotec's share-based incentive programmes. The shares will be purchased at public trading on Nasdaq Helsinki Ltd. at the market price. The repurchases will start on 20 July 2018 at the earliest. According to the authorisation given to the Board of Directors by the Annual General Meeting, the maximum amount of shares that can be acquired is 952,000 class A shares and 5,448,000 class B shares.

 

Cargotec Corporation

The Board of Directors

 

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 2017 totalled approximately EUR 3.2 billion and it employs over 11,000 people. www.cargotec.com

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Source: Cargotec Corporation via Globenewswire