Cargotec Corporation (HLSE:CGCBV) commences share repurchases on February 7, 2022, under the program mandated by the shareholders in the Annual General Meeting held on March 23, 2021. As per the mandate, the company is authorized to repurchase up to 6,400,000 shares of which 952,000 are Class A shares and 5,448,000 are Class B shares. The minimum consideration shall be the lowest market price of the class B share of the company quoted in public trading during the authorization period and the maximum consideration the highest market price quoted during the authorization period. The program will be valid for a period of 18 months from the resolution by the general meeting.

On February 3, 2022, the company announced a share repurchase program. Under the program, the company will repurchase up to 28,903 class B shares. The shares repurchased will be used as reward payments for company's share-based incentive program. The repurchases will commence on February 4, 2022.