New class B shares of Konecranes have been registered and two new Board Members have been elected

By: | at 07:20 AM | Ports & Terminals  

Konecranes Plc (“Konecranes”) announces that the 19,600,000 new Konecranes’ class B shares (the “Shares”, each a “Share”) issued to Terex Corporation’s (“Terex”) affiliate Terex Deutschland GmbH (“Terex Affiliate”) have been registered with the Finnish Trade Register and Euroclear Finland Ltd today, on January 5, 2017. The Shares were issued as share consideration in addition to the cash consideration payable to Terex and Terex Affiliate for the purchase of Terex’s Material Handling & Port Solutions (“MHPS”) business (the “MHPS Acquisition”).

Following entry of the Shares into the Finnish Trade Register, the total number of Konecranes’ shares equals 82,872,342, which is divided to 63,272,342 class A shares and 19,600,000 class B shares. Konecranes’ share capital remains unchanged at EUR 30,072,660. The new Shares entitle to dividends and other rights as from today.

Konecranes’ class A shares are listed on Nasdaq Helsinki, but the new class B Shares will not be applied for public trading. Konecranes’ trading code has changed in the Nasdaq Helsinki’s INET trading system from KCR1V to KCR as from today, January 5, 2017.

The Board of Directors has elected Oren Shaffer a member of the Nomination and Compensation Committee and David Sachs a member of the Audit Committee with effect from today.


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