Konecranes Oyj - Notice to general meeting

Konecranes Board of Directors convenes Annual General Meeting 2017

KONECRANES PLC  STOCK EXCHANGE RELEASE  February 8, 2017 at 09.15 a.m.

Konecranes Board of Directors has resolved to convene the Annual General
Meeting to be held on Thursday March 23, 2017. The Board and its Committees
will submit the below proposals to the Annual General Meeting: 

- Proposal to pay a dividend of EUR 1.05 per share (EUR 1.05 for 2015)
- Proposals on the Board composition and remuneration
- Proposal on the election of auditor and auditor’s fee
- Proposal to authorize the Board of Directors to decide on the repurchase
and/or on the acceptance as pledge of the Company’s own shares 
- Proposal to authorize the Board of Directors to decide on the issuance of A
shares as well as on the issuance of special rights entitling to A shares 
- Proposal to authorize the Board of Directors to decide on the transfer the
Company’s own A shares 
- Proposal to authorize the Board of Directors to decide on directed issuance
of A shares without payment for an employee share savings plan 
- Proposal to authorize the Board of Directors to decide on donations

Proposal to pay a dividend

The Board of Directors proposes to the General Meeting that a dividend of EUR
1.05 per share be paid from the distributable assets of the parent Company.
Dividend will be paid to shareholders who on the record date of the dividend
payment 27 March 2017 are registered as shareholders in the Company’s
shareholders’ register maintained by Euroclear Finland Ltd. The dividend shall
be paid on 4 April 2017. 

Proposals on the Board composition and remuneration

The Nomination and Compensation Committee of the Board of Directors proposes to
the General Meeting that the number of Board members shall be eight (8). 

Under § 5 of the Company's Articles of Association, Terex Corporation currently
has the right to appoint two members to the Company's Board of Directors upon
written notice to the Company. Terex Corporation has appointed Mr. David A.
Sachs and Mr. Oren G. Shaffer to the Board of Directors. 

The Nomination and Compensation Committee of the Board of Directors proposes
that the current Board members Mr. Ole Johansson, Ms. Janina Kugel, Mr. Bertel
Langenskiöld, Mr. Ulf Liljedahl, Ms. Malin Persson and Mr. Christoph Vitzthum
be re-elected for a term of office ending at the closing of the Annual General
Meeting in 2018. Of the current Board members Mr Stig Gustavson and Mr Svante
Adde have announced that they are not available for re-election. All
candidates, as well as Mr. David A. Sachs and Mr. Oren G. Shaffer, and the
evaluation regarding their independence have been presented on the Company’s
website www.konecranes.com. All candidates have given their consent to the
election. 

The Nomination and Compensation Committee of the Board of Directors proposes to
the Annual General Meeting that the annual remuneration payable to the members
of the Board to be elected at the Annual General Meeting for the term until the
closing of the Annual General Meeting in 2018 be unchanged as follows: Chairman
of the Board EUR 140,000, Vice Chairman of the Board EUR 100,000, and other
Board members EUR 70,000. In case the term of office of a Board member ends
before the closing of the Annual General Meeting in 2018, he or she is entitled
to the prorated amount of the annual remuneration calculated on the basis of
his or her actual term in office. 

The Committee furthermore proposes that 50 per cent of the annual remuneration
be paid in Konecranes shares. The remuneration shares may be purchased on the
market on behalf of the Board members at a price determined in public trading
at the time of acquiring the shares or transferred in a corresponding number of
treasury shares. The purchase of shares or transfer of treasury shares shall be
carried out in four equal instalments, each instalment being purchased or
transferred within the two week period beginning on the date following each of
the Company's interim report announcements and the Company's financial
statements bulletin for 2017. 

In case the shares due in any such instalment cannot be purchased or
transferred within the time period indicated above due to legal or other
regulatory restrictions or due to reasons related to a Board member, the amount
of annual remuneration due for payment in such instalment shall be paid fully
in cash. 

In addition, the Chairman of the Board, the Vice Chairman of the Board, and
other Board members are entitled to a compensation of EUR 1,500 per attended
Board committee meeting. The Chairman of the Audit Committee of the Board of
Directors is, however, entitled to a compensation of EUR 3,000 per attended
Audit Committee meeting. Such compensation will be paid in connection with each
instalment of the annual remuneration to the extent accrued. Any compensation
accruing after the payment of the last instalment of the annual remuneration
will be paid, without undue delay, after the end of the term of office of the
Board member. No remuneration will be paid to Board members employed by the
Company. Travel expenses will be compensated against receipt. 

Proposal on the election of auditor and auditor’s fee

Upon recommendation of the Audit Committee, the Board of Directors proposes to
the General Meeting that Ernst & Young Oy be re-elected as the Company’s
auditor. 

Upon recommendation of the Audit Committee, the Board of Directors proposes to
the General Meeting that the remuneration for the auditor be paid according to
an invoice approved by the company. 

Proposal to authorize the Board to decide on the repurchase and/or on the
acceptance as pledge of the Company’s own shares 

The Board of Directors proposes to the General Meeting that the Board of
Directors be authorized to decide on the repurchase of the Company’s own A or B
shares and/or on the acceptance as pledge of the Company’s own A or B shares as
follows. 

The amount of own shares to be repurchased and/or accepted as pledge based on
this authorization shall not exceed 6,000,000 shares in total, which
corresponds to approximately 7.2 per cent of all of the shares in the Company.
However, the Company together with its subsidiaries cannot at any moment own
and/or hold as pledge more than 10 per cent of all the shares in the Company.
Only the unrestricted equity of the Company can be used to repurchase own
shares on the basis of the authorization. 

Own shares can be repurchased at a price formed in public trading on the date
of the repurchase or otherwise at a price formed on the market. 

The Board of Directors decides how own shares will be repurchased and/or
accepted as pledge. Own shares can be repurchased using, inter alia,
derivatives. Own shares can be repurchased otherwise than in proportion to the
shareholdings of the shareholders (directed repurchase). 

Own shares can be repurchased and/or accepted as pledge to limit the dilutive
effects of share issues carried out in connection with possible acquisitions,
to develop the Company’s capital structure, to be transferred for financing or
realization of possible acquisitions, investments or other arrangements
belonging to the Company’s business, to pay remuneration to Board members, to
be used in incentive arrangements or to be cancelled, provided that the
repurchase and/or acceptance as pledge is in the interest of the Company and
its shareholders. 

The authorization is effective until the end of the next Annual General
Meeting, however no longer than until 22 September 2018. 

Proposal to authorize the Board to decide on the issuance of A shares as well
as the issuance of special rights entitling to A shares 

The Board of Directors proposes to the General Meeting that the Board of
Directors be authorized to decide on the issuance of A shares as well as the
issuance of special rights entitling to A shares referred to in chapter 10
section 1 of the Finnish Companies Act as follows. 

The amount of A shares to be issued based on this authorization shall not
exceed 6,000,000 shares, which corresponds to approximately 7.2 per cent of all
the shares in the Company and 9.5 per cent of all the A shares in the Company. 

The Board of Directors decides on all the conditions of the issuance of A
shares and of special rights entitling to A shares. The issuance of A shares
and of special rights entitling to A shares may be carried out in deviation
from the shareholders’ pre-emptive rights (directed issue). The authorization
can also be used for incentive arrangements, however, not more than 1,000,000 A
shares in total together with the authorization in item 17. 

The authorization is effective until the end of the next Annual General
Meeting, however no longer than until 22 September 2018. However, the
authorization for incentive arrangements is valid until 22 March 2022. This
authorization revokes the authorization for incentive arrangements given by the
Annual General Meeting in 2016. 

Proposal to authorize the Board to decide on the transfer the Company’s own A
shares 

The Board of Directors proposes to the General Meeting that the Board of
Directors be authorized to decide on the transfer of the Company’s own A shares
as follows. 

The authorization is limited to a maximum of 6,000,000 A shares, which
corresponds to approximately 7.2 per cent of all the shares in the Company and
9.5 per cent of all the A shares in the Company. 

The Board of Directors decides on all the conditions of the transfer of own A
shares. The transfer of shares may be carried out in deviation from the
shareholders’ pre-emptive rights (directed issue). The Board of Directors can
also use this authorization to grant special rights concerning the Company’s
own A shares, referred to in Chapter 10 of the Companies Act. The authorization
can also be used for incentive arrangements, however, not more than 1,000,000 A
shares in total together with the authorization in item 16. 

This authorization is effective until the next Annual General Meeting of
Shareholders, however no longer than until 22 September 2018. However, the
authorization for incentive arrangements is valid until 22 March 2022. This
authorization revokes the authorization for incentive arrangements given by the
Annual General Meeting in 2016. 

Authorizing the Board of Directors to decide on directed issuance of A shares
without payment for an employee share savings plan 

The Board of Directors proposes to the General Meeting that the Board of
Directors be authorized to decide on a directed issuance of A shares without
payment needed for the continuation of the Share Savings Plan that the Annual
General Meeting 2012 decided to launch. 

The Board of Directors proposes that the General Meeting authorize the Board to
decide on the issuance of new A shares or on the transfer of own A shares held
by the Company to such participants of the Plan who, according to the terms and
conditions of the Plan, are entitled to receive free shares, as well as to
decide on the issuance of A shares without payment also to the Company itself.
The Board of Directors proposes that the proposed authorization includes a
right, within the scope of this Plan, to transfer own A shares currently held
by the Company, which have earlier been limited to purposes other than
incentive plans. The number of new A shares to be issued or own A shares held
by the Company to be transferred may in the aggregate amount to a maximum total
of 500,000 shares, which corresponds to approximately 0.6 per cent of all the
shares in the Company and 0.8 per cent of all the A shares in the Company. 

The Board of Directors considers that there is an especially weighty financial
reason for the directed issuance of shares without payment, both for the
Company and in regard to the interests of all shareholders, since the Plan is
intended to form part of the incentive and commitment program for the Group
personnel. 

The Board of Directors is entitled to decide on other matters concerning the
issuance of shares. The authorization is valid until 22 March 2022. This
authorization is in addition to the authorizations in items 16 and 17 above.
This authorization replaces the authorization for the Share Savings Plan given
by the Annual General Meeting in 2016. 

Authorizing the Board of Directors to decide on donations

The Board of Directors proposes to the General Meeting that the Board of
Directors be authorized to decide on donations of up to EUR 200,000 to Aalto
University and up to EUR 50,000 to Åbo Akademi University in one or several
instalments. The Board of Directors is entitled to decide on designating all or
part of the donations to specific study fields and any other matters concerning
the donations. The authorization is effective until the end of the Annual
General Meeting in 2018. 


The actual notice to the Annual General Meeting is intended to be published on
Monday, February 13, 2017. 

KONECRANES PLC

Miikka Kinnunen
Vice President, Investor Relations

FURTHER INFORMATION
Miikka Kinnunen, 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. The Group has
18,000 employees at 600 locations in 50 countries. Konecranes class A shares
are listed on Nasdaq Helsinki (symbol: KCR). 



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Media
www.konecranes.com