Cramo Plc Stock Exchange Release 28 May 2020 at 7.30 pm EET
Arbitral Tribunal has confirmed Boels Topholding B.V.'s redemption right to Cramo Plc's shares
The Arbitral Tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has on May 28, 2020 confirmed that Boels Topholding B.V. (“Boels”) has the right to redeem the minority shares in Cramo Plc (“Cramo”) and that Boels has the right to obtain title to the minority shares by placing a security approved by the Arbitral Tribunal for the payment of the redemption price and the possible interest accruing thereon.
Cramo has on May 12, 2020 submitted a delisting application to Nasdaq Helsinki Ltd concerning its shares. Cramo has requested in the application that the quotation of its shares on the official list of Nasdaq Helsinki Ltd be terminated as soon as possible upon Boels having gained title to all the shares in Cramo in the redemption proceedings.
According to Cramo's understanding, pursuant to the confirmation of Boels' redemption right, Nasdaq Helsinki Ltd will in accordance with its customary market practice suspend trading in Cramo's shares pursuant to Nasdaq Helsinki Ltd's separate release. The placing of the security and the subsequent delisting of Cramo's shares will be announced in due course through a separate stock exchange release.
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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