Decisions taken at Cargotec's Annual General Meeting 2016

Decisions taken at Cargotec's Annual General Meeting 2016

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Cargotec Corporation's Annual General Meeting was held today, 22 March 2016 in Helsinki.

The Annual General Meeting approved a dividend of EUR 0.79 be paid for each of class A shares and a dividend of EUR 0.80 be paid for each of class B shares outstanding. The dividend will be paid to shareholders who on the record date for dividend distribution, 24 March 2016, are registered as shareholders in the company's shareholder register. The dividend payment date is 4 April 2016.

The meeting adopted the financial statements and consolidated financial statements. The meeting granted discharge from liability to the CEO and the members of the Board of Directors for the accounting period 1 January-31 December 2015.

The number of the ordinary members of the Board of Directors was confirmed at eight. Jorma Eloranta, Tapio Hakakari, Ilkka Herlin, Peter Immonen and Teuvo Salminen were re-elected to the Board of Directors, and Kimmo Alkio, Kaisa Olkkonen and Heikki Soljama were elected as new members. The meeting decided a yearly remuneration of EUR 80,000 be paid to the Chairman of the Board, EUR 55,000 to the Vice Chairman, EUR 55,000 to the Chairman of the Audit and Risk Management Committee and EUR 40,000 to the other Board members. In addition, members are paid EUR 1,000 for attendance at board and committee meetings. 30 percent of the yearly remuneration will be paid in Cargotec's class B shares and the rest in cash and Cargotec will cover the transfer taxes related to the Board remuneration paid in shares.

The Annual General Meeting elected accounting firm PricewaterhouseCoopers Oy and authorised public accountant Tomi Hyryläinen as auditors. The auditors' fees were decided to be paid according to invoice approved by the company.

The Annual General Meeting authorised the Board to decide on the repurchase of Cargotec's shares with non-restricted equity. Altogether no more than 6,400,000 shares in the company may be purchased, of which no more than 952,000 are class A shares and 5,448,000 are class B shares. This authorisation shall remain in effect for a period of 18 months and it will supersede the previous one.

The meeting approved a EUR 600,000 donation to the Tampere University of Technology.