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    CRA1V   FI4000384243

CRAMO OYJ

(CRA1V)
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Cramo Plc: Prepayment requests received relating to Cramo's notes due 2022

03/20/2020 | 07:00am EDT

Cramo Plc: Prepayment requests received relating to Cramo's notes due 2022

Cramo Plc      Stock exchange release   20 March 2020 at 2.00 pm Finnish time (EET)

Cramo Plc ("Cramo") announced on 11 November 2019 that it had entered into a combination agreement with Boels Topholding B.V. ("Boels") pursuant to which Boels commenced a recommended public cash tender offer for all of the issued and outstanding shares in Cramo (the "Tender Offer") on 25 November 2019. Boels and Cramo announced on 5 February 2020 the final results of the Tender Offer as well as Boels's intention to complete the Tender Offer and on 6 February 2020 Cramo announced that the completion of the Tender Offer constituted a Change of Control pursuant to Condition 10 of the terms and conditions of Cramo's EUR 150,000,000 2.375 per cent fixed-rate notes due 28 February 2022 (ISIN: FI4000232509).

Cramo has by 19 March 2020, which was the due date for prepayment requests in respect of the notes, received prepayments requests for EUR 15,800,000 in principal amount of the notes. Cramo will on 9 April 2020 prepay the principal amount of and the interest then accrued on the notes in respect of which prepayment has been requested, but without any premium or penalty. Interest on the notes prepayment of which has been requested accrues until 9 April 2020 (excluding said date). The prepaid notes will be cancelled and after such cancellation the remaining outstanding principal amount of the notes will be EUR 134,200,000.

CRAMO PLC


Further information:

Mr Ville Halttunen, CFO, tel: +358 50 346 0868, email: ville.halttunen@cramo.com


Distribution:

Nasdaq Helsinki Ltd
Main media
www.cramogroup.com


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.

Read more: www.cramogroup.com, www.twitter.com/cramogroup


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© GlobeNewswire 2020
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Financials
Sales 2019 613 M 714 M 714 M
Net income 2019 423 M 492 M 492 M
Net Debt 2019 382 M 445 M 445 M
P/E ratio 2019 1,40x
Yield 2019 -
Capitalization 614 M 663 M 715 M
EV / Sales 2018 2,18x
EV / Sales 2019 1,59x
Nbr of Employees 2 589
Free-Float 3,51%
Income Statement Evolution
Managers and Directors
Martin Holmgren President & Chief Executive Officer
Ville Halttunen Chief Financial Officer
Raimo Aulis Seppänen Independent Director
Joakim Rafael Rubin Independent Director
AnnaCarin Grandin Director
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