The Board of Directors of Konecranes Plc decided to continue the Employee Share Savings Plan
KONECRANES PLC STOCK EXCHANGE RELEASE March 30, 2021 at 18:30 EEST
The Board of Directors of Konecranes Plc decided to continue the Employee Share Savings Plan
Konecranes Plc has offered to its personnel an Employee Share Savings Plan (“the Plan”) since the Annual General Meeting decided to launch one in 2012.
On the basis of interest shown by the Group employees, the Board has decided to continue the Plan by launching a new Plan Period, beginning on July 1, 2021 and ending on June 30, 2022. 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 1, 2025, 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 2021-2022 remain largely 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 2021. 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 Annual General Meeting of Shareholders held today, on March 30, 2021 authorized the Board of Directors to decide on directed share issue without payment needed for the implementation of the Plan.
KONECRANES PLC
Kiira Fröberg
Vice President, Investor Relations
FURTHER INFORMATION
Kiira Fröberg, Vice President, Investor Relations,
tel. +358 (0) 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 2020, Group sales totaled EUR 3.2 billion. The Group has around 16,900 employees in 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).
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