Konecranes Plc, a leading company in the industry, has announced a new Employee Share Savings Plan (“the Plan”) for the period of July 1, 2023 to June 30, 2024. This move by the Board of Directors comes after a successful launch in 2012 and the interest shown by employees.
Details of the Plan:
The Plan is open for Konecranes employees who can choose to participate for one year at a time. The maximum monthly savings amount is 5% of gross salary, with a minimum of EUR 50. Participants will receive one free matching share for every two acquired savings shares if they hold the shares until February 1, 2027 and if their employment remains intact.
Shares and Dividends:
Shares will be acquired with the accrued savings at the market price quarterly, starting October 2023. Any dividends paid on the purchased shares will automatically be reinvested into additional shares on the following purchase date. The total amount of all savings during this period may not exceed EUR 8.5 million.
Authorization for Directed Share Issue:
The Board of Directors proposes to the Annual General Meeting of Shareholders, which is to be convened later this year, that the Board of Directors be authorized to decide on a directed share issue without payment needed for the implementation of the Plan.
Same Terms and Conditions:
The terms and conditions of the Plan Period 2023-2024 remain unchanged from the previous Plan Periods. The employees can enjoy the benefits of the Plan and make their savings grow with the company.
In conclusion, Konecranes Plc’s new Employee Share Savings Plan offers employees the opportunity to save and grow their savings with the company. With the same terms and conditions as the previous Plan Periods, employees can participate with ease and peace of mind.