Cramo Plc Stock Exchange Release 12 May 2020 at 3.30 pm EET
Cramo Plc applies for the delisting of its shares from the official list of Nasdaq Helsinki
Cramo Plc's (“Cramo”) Board of Directors has decided to apply for the termination of public trading in Cramo shares and for the delisting of Cramo's shares from the official list of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”).
Boels Topholding B.V. (“Boels”) owns more than nine tenths (9/10) of all the shares and votes in Cramo and has initiated redemption proceedings in accordance with Chapter 18 of the Finnish Companies Act in order to redeem the remaining Cramo shares held by the minority shareholders.
Provided that the Arbitral Tribunal appointed for the redemption proceedings confirms that Boels' redemption right is clear, Boels is entitled to gain title to all Cramo's shares against the placing of a security approved by the Arbitral Tribunal for the payment of the redemption price.
Today, Cramo will submit a delisting application to Nasdaq Helsinki. In the application Cramo requests that the quotation of Cramo's shares on the official list of Nasdaq Helsinki be terminated as soon as possible after Boels has gained title to all the shares in Cramo in the redemption proceedings.
Mr Ville Halttunen, CFO, tel: +358 50 346 0868, email: email@example.com
Nasdaq Helsinki Ltd
Cramo is one of the leading European equipment rental services companies with revenue of EUR 613 million in 2019, serving approximately 150,000 customers through around 300 depots across 11 markets with a full range of machinery, equipment and related services. Cramo enjoys solid market position in all key markets and has a strong focus on the most sophisticated customers primarily within the renovation and new-build construction, industrial and public sector end-markets. Cramo shares (CRA1V) are listed on Nasdaq Helsinki Ltd. Boels Topholding B.V. has acquired more than 90 percent of all Cramo's shares and will delist the company from Nasdaq Helsinki Ltd as soon as permitted under applicable laws.
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