Cramo Plc Stock Exchange Release 21 May 2019, at 09.30 am (EEST)
The Board of Directors of Cramo amends its proposals to the Extraordinary General Meeting concerning the composition of Adapteo’s Board of Directors
The Board of Directors of Cramo Plc (“Cramo”) has resolved to amend its proposals to Cramo’s Extraordinary General Meeting to be held on 17 June 2019 (the “EGM”) concerning the composition of the Board of Directors of Adapteo Plc (“Adapteo”), a company to be incorporated in the proposed partial demerger of Cramo to be resolved upon by the EGM.
According to the amended proposals, the Board of Directors of Cramo proposes to the EGM, following consultation with the Shareholders’ Nomination Committee of Cramo, that the number of members of the Board of Directors of Adapteo shall be five (5). Furthermore, the Board of Directors of Cramo proposes, following consultation with the Shareholders’ Nomination Committee of Cramo, that Peter Nilsson be elected as the Chairman and Carina Edblad, Outi Henriksson, Andreas Philipson and Joakim Rubin as members of the Board of Directors of Adapteo.
The reason for the amendment is that Cramo has received from Nasdaq Stockholm an advance ruling which states that if Adapteo’s Board of Directors were to comprise five (5) members pursuant to the above-mentioned amended proposals, such Board composition would meet Nasdaq Stockholm’s listing requirements with respect to sufficient independence from Cramo. The Board of Directors of Cramo had originally proposed that the number of Adapteo Board members would be six (6) and that Leif Gustafsson be elected to the Board of Directors of Adapteo in addition to the above-mentioned persons.
No other amendments have been made to the proposals of the Board of Directors of Cramo set out in the notice to the EGM published on 2 May 2019.
The Board of Directors
Mr Aku Rumpunen, CFO, tel: +358 40 556 3546, email: firstname.lastname@example.org
Mr Jaakko Liljeroos, General Counsel, tel: +358 40 162 2331, email: email@example.com
Nasdaq Helsinki Ltd.
Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in about 300 depots in 14 countries. With a group staff around 2,700, Cramo's consolidated sales in 2018 was EUR 780 million. Cramo shares are listed on Nasdaq Helsinki Ltd.