An extraordinary general meeting has approved the merger of Konecranes with Cargotec in accordance with the merger plan signedby the boards of directors of Konecranes and Cargotec on 1 October 2020.

One step closer to Konecranes-Cargotec merger

Stockholders also approved the Merger Plan under which all assets and liabilities of Konecranes shall be transferred without a liquidation procedure to Cargotec, and Konecranes will be dissolved. The shareholders of Konecranes will receive new shares in Cargotec as merger consideration in proportion to their existing shareholdings as described in more detail in the Merger Plan.

A total of 896 shareholders, representing 51,721,933 shares and votes in total, participated in the advance voting. The merger was supported by 45,577,553 votes, which corresponded to approximately 88.12% of the total number of shares and votes represented at the EGM.

Two shareholders, representing a total of 7,650 shares and votes, requested that the shareholder's shares would be redeemed in redemption proceedings.

The completion of the merger is subject to necessary merger control approvals having been obtained, the extraordinary general meeting of Cargotec having approved the merger and other conditions to completion having been fulfilled.

The planned merger completion date is 1 January 2022; however, the date is subject to change and the actual completion date may be earlier or later.