Konecranes’ Continued Confidence in Stig Gustavson

Konecranes Plc has with its stock exchange release on March 18 2016, announced that it has become aware that charges for aggravated subsidy fraud have been pressed against its chairman of the board Stig Gustavson in the so called business park matter concerning Industry Park East Management Oy. Konecranes is not a party in the matter.

According to Stig Gustavson, the matter is related to his position in 2011-2012 as the chairman of the board of the business park company that has since ran into financial difficulties. The purpose of the business park initiative was to help Finnish SMEs to become established in Russia. Gustavson finds the charges unfounded and demands the court reject them in the upcoming trial.

The Board of Directors of Konecranes and its Nomination and Compensation Committee have now acquainted themselves with the matter and not found anything, which would give reason to question Gustavson’s suitability and ability to act as the Chairman of the Board of Directors.

Full confidence: Stig Gustavson

Hence, the matter does not affect the proposal of the Nomination and Compensation Committee to the General Meeting to re-elect the Board.

The Board has full confidence in Stig Gustavson as its chairman.