KONECRANES PLC ACQUIRES COMPANY'S OWN SHARES
KONECRANES PLC ACQUIRES COMPANY'S OWN SHARES
The Board of Directors of Konecranes Plc has today decided, in accordance with
the authorization granted by the Annual General Meeting on 8 March, 2007, to
repurchase a maximum amount of 1,800,000 Company's own shares, which corresponds
to approx. 3.0 percent of all the outstanding shares of the Company. In
addition, Konecranes Plc holds at the moment 742,600 Company's own shares. The
shares will be purchased with the Company's non-restricted equity. The
repurchase will reduce the Company's distributable non-restricted equity.
The repurchase of shares will be executed at the market price in public trading
on the OMX Nordic Helsinki Exchange. The Company's own shares will be
repurchased to be used as compensation in possible acquisitions or other
arrangements, or to develop the capital structure of the Company including
possible cancellation of shares. Therefore there is a weighty financial reason
for the repurchase of own shares.
The repurchase of own shares will start no earlier than 8 November, 2007 and end
no later than 29 February, 2008.
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 2006, Group sales totaled EUR 1483 million. The Group has 8,000
employees, at more than 370 locations in 41 countries. Konecranes is listed on
the OMX Helsinki Stock Exchange (symbol: KCR1V).
KONECRANES PLC
Paul Lönnfors
IR Manager
FURTHER INFORMATION
Konecranes Plc
Teo Ottola, Chief Financial Officer, tel. +35820 427 2040
DISTRIBUTION
OMX Helsinki Stock Exchange
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