Cargotec partial demerger

The Board of Directors of Cargotec Corporation (is carrying out a partial demerger of Cargotec according to which all assets, debts and liabilities of Cargotec relating to the Kalmar business area or mainly serving the Kalmar business area shall be transferred without a liquidation procedure to a new Kalmar Corporation.

Upon the completion of the Demerger, the shareholders of Cargotec shall receive as demerger consideration one  new share of the corresponding share class (ie class A or class B) in Kalmar for each class A and class B share owned in Cargotec. No demerger consideration shall be issued to any treasury shares held by Cargotec. The total number of Kalmar shares issued as demerger consideration is expected to be 64,324,118 shares. The total number of Kalmar shares would therefore be 9,526,089 class A shares and 54,798,029 class B shares. The Kalmar shares will be registered in the book-entry accounts of Cargotec’s shareholders on or about 1 July 2024.

In connection with the decision on the completion of the Demerger, the board of directors of Cargotec has confirmed the appointment of the leadership team of Kalmar upon the completion of the Demerger. Heading up the team is Sami Niiranen as president and CEO and Sakari Ahdekivi as chief financial officer.