Cramo Plc Stock Exchange Release March 6, 2020 at 12:00 noon EET
Trustee Appointed for the Arbitration Proceedings Concerning the Redemption of Minority Shares in Cramo Plc
According to information received from Boels Topholding B.V. ("Boels"), Boels has on February 14, 2020 commenced redemption proceedings in respect of Cramo Plc's ("Cramo") minority shares by initiating arbitration proceedings in accordance with Chapter 18, Section 3 of the Finnish Companies Act in order to obtain ownership of all the issued and outstanding shares in Cramo.
As a result of Boels' application for the above arbitration proceedings, the Redemption Board of the Finland Chamber of Commerce has petitioned the District Court of Itä-Uusimaa for the appointment of a trustee to look after the interests of Cramo's minority shareholders during the redemption process. With its decision given on March 5, 2020, the District Court of Itä-Uusimaa has appointed Professor Kari Hoppu to act as such trustee.
Boels' notice, as referred to in Chapter 18, Section 5, Subsection 2 of the Finnish Companies Act, is attached to this release and has been published on the website of Cramo.
CRAMO PLC
Further information:
Mr Aku Rumpunen, CFO, tel: +358 40 556 3546, email: aku.rumpunen@cramo.com
Distribution:
Nasdaq Helsinki Ltd
Main media
www.cramogroup.com
ABOUT CRAMO
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.
Attachments
Notice to the minority shareholders of Cramo Plc
Attachment
