Konecranes Oyj - Company Announcement

Konecranes proceeds with the closing preparations of the acquisition of Terex’s MHPS business and has decided to issue new class B shares in a directed share issue to Terex's affiliate

KONECRANES PLC  STOCK EXCHANGE RELEASE  December 29, 2016 at 14.15 EET


After having received all material regulatory approvals and in order to
complete the acquisition of Terex Corporation’s (“Terex”) Material Handling &
Port Solutions ("MHPS") business (“MHPS Acquisition”), the Board of Directors
of Konecranes Plc ("Konecranes") has decided today on a directed share issue of
19,600,000 new class B shares ("Shares", each a "Share") to Terex's affiliate
Terex Deutschland GmbH ("Terex Affiliate") (the "Share Issue"). The Share Issue
is conditional on the completion of the closing of the MHPS Acquisition (the
"Closing"). The Closing is expected to occur on or about January 4, 2017 (the
"Closing Date"). 

The Shares are issued to Terex Affiliate as share consideration in addition to
the cash consideration payable to Terex and Terex affiliates for the purchase
of Terex's MHPS business under the Stock and Asset Purchase Agreement between
Konecranes and Terex dated May 16, 2016. 

The decision on the Share Issue is based on the authorization granted to the
Board of Directors by the Extraordinary General Meeting of Shareholders held on
September 15, 2016, to issue a maximum of 24,583,721 new class B shares to
Terex or its designated affiliates. 

The subscription price for a Share is the closing price of Konecranes' class A
share on the Nasdaq Helsinki on the Closing Date. The subscription price will
be fully recorded in the fund for invested unrestricted equity of Konecranes.
Consequently, Konecranes' share capital will remain unchanged at EUR
30,072,660. The Board of Directors has, under certain circumstances, the right
to make amendments to the terms and conditions of the Share Issue including the
subscription price. 

Pursuant to specific provisions of Konecranes' articles of association, the
Shares have the same financial rights as Konecranes ordinary shares but are
subject to voting and transfer restrictions, and confer upon Terex the right to
appoint up to two members to the Board of Directors of Konecranes as long as
Terex's or its group companies' shareholding in Konecranes exceeds certain
specified thresholds. 

Konecranes expects to register the Shares with the Finnish Trade Register and
Euroclear Finland Ltd on or about January 5, 2017. After the registration of
the Shares, the total number of Konecranes' shares will equal 82,872,342, which
will be divided to 63,272,342 class A shares and 19,600,000 class B shares. The
new Shares will entitle to dividends and other rights as from the registration
date. The Shares will not be applied for public trading. 



KONECRANES PLC

Miikka Kinnunen
Vice President, Investor Relations



FURTHER INFORMATION
Miikka Kinnunen, Vice President, Investor Relations, Konecranes Plc, 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 and machine tools of all
makes. In 2015, Group sales totaled EUR 2,126 million. The Group has 11,100
employees at 600 locations in 48 countries. Konecranes is listed on Nasdaq
Helsinki (symbol: KCR1V). 





DISTRIBUTION
Nasdaq Helsinki
Major media
www.konecranes.com