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Cramo Plc notifies holders of its notes due 2022 of a Change of Control

6 Feb 2020 15:15



Cramo Plc notifies holders of its notes due 2022 of a Change of Control

Cramo Plc Stock exchange release 6 February 2020 at 5.15 pm Finnish time (EET)

Cramo Plc notifies holders of its notes due 2022 of a Change of Control

Cramo Plc ("Cramo") announced on 11 November 2019 that it has 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.

Reference is made to Cramo's EUR 150 million 2.375 per cent fixed-rate notes due 28 February 2022 (ISIN: FI4000232509). The completion of the Tender Offer today on 6 February 2020 constitutes a Change of Control pursuant to Condition 10 of the terms and conditions of the notes.

Cramo shall on 9 April 2020 prepay the principal amount of and the interest then accrued on the notes, but without any premium or penalty, held by the noteholders of the notes who have by written notice required prepayment of the notes held by them. The written notice should be primarily submitted by email to Nordea Bank Abp at cramo-offer@nordea.com no later than on 19 March 2020 as instructed in Appendix 1 to this release. Alternatively, notice can be sent by mail to Cramo Plc (attn.: Aku Rumpunen), Kalliosolantie 2, FI-01740 Vantaa, Finland.

Interest on the notes prepayment of which has been required accrues until 9 April 2020 (excluding said date).

If notes representing more than seventy-five (75) per cent of the aggregate principal amount of the notes have been prepaid on 9 April 2020 pursuant to Condition 10 of the terms and conditions of the notes, Cramo is entitled to prepay also the remaining outstanding notes at their principal amount with accrued interest but without any premium or penalty.

CRAMO PLC

Leif GustafssonPresident and CEO

Further information:

Mr Aku Rumpunen, CFO, tel: +358 40 556 3546, email: aku.rumpunen@cramo.com

Distribution:

Nasdaq Helsinki LtdMain mediawww.cramogroup.com

Cramo is one of the leading European equipment rental services companies with revenue of EUR 632 million in 2018, 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.

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


Attachment




Appendix 1 Instructions to noteholders



Date   Source Headline
9th Apr 20203:00 pmGNWCramo Plc withdraws its guidance for 2020 due to uncertainty related to COVID-19
6th Apr 20203:00 pmGNWArbitrator appointed for the arbitration proceedings concerning the redemption of minority shares in Cramo Plc
20th Mar 202012:00 pmGNWCramo Plc: Prepayment requests received relating to Cramo's notes due 2022
19th Mar 20207:00 amGNWCramo's CFO Aku Rumpunen and SVP Mika Kouhi to leave the company
19th Mar 20207:00 amGNWCramo Group announces resignation of Leif Gustafsson as President and Chief Executive Officer. Martin Holmgren named to take over.
10th Mar 20202:00 pmGNWDecisions of Cramo Plc's Extraordinary General Meeting and the constitutive meeting of the Board of Directors
6th Mar 202010:00 amGNWTrustee Appointed for the Arbitration Proceedings Concerning the Redemption of Minority Shares in Cramo Plc
2nd Mar 20209:45 amGNWCramo’s Annual Review and Financial Statements for 2019 published
25th Feb 202011:00 amGNWFinal Results of the Subsequent Offer Period of Boels’ Voluntary Recommended Public Cash Tender Offer for All Shares in Cramo Plc
21st Feb 202012:00 pmGNWPreliminary Results of the Subsequent Offer Period of Boels’ Voluntary Recommended Public Cash Tender Offer for All Shares in Cramo Plc
12th Feb 20207:15 amGNWCramo’s Shareholders’ Nomination Committee will not make proposals to the Annual General Meeting
11th Feb 20207:00 amGNWChanges in Cramo Plc's financial reporting and the date of the Annual General Meeting in 2020
11th Feb 20207:00 amGNWCramo's Financial Statements Bulletin for January-December 2019
11th Feb 20207:00 amGNWNotice to Convene Cramo Plc's Extraordinary General Meeting of Shareholders
7th Feb 20203:00 pmGNWBoels Topholding B.V. to commence redemption proceedings in respect of the remaining minority shares in Cramo Plc
6th Feb 20203:15 pmGNWCramo Plc notifies holders of its notes due 2022 of a Change of Control
6th Feb 20203:00 pmGNWNotification pursuant to Chapter 9, section 5 of the Securities Markets Act
6th Feb 202010:45 amGNWNotification pursuant to Chapter 9, section 5 of the Securities Markets Act
5th Feb 202010:00 amGNWFinal Results of Boels’ Recommended Voluntary Public Cash Tender Offer for All Shares in Cramo Plc: Boels Completes the Tender Offer and Commences a Subsequent Offer Period
3rd Feb 20201:00 pmGNWPreliminary Results of Boels’ Voluntary Recommended Public Cash Tender Offer for All Shares in Cramo Plc
21st Jan 20201:00 pmGNWBoels Supplements the Tender Offer Document Relating to its Recommended Voluntary Public Cash Tender Offer for All Shares in Cramo Plc
17th Jan 20202:30 pmGNWThe Board of Directors of Cramo Plc supplements its statement regarding the recommended voluntary public cash tender offer by Boels Topholding B.V. due to the increase in the Offer Price
17th Jan 20206:30 amGNWBoels Increases the Offer Price to EUR 13.75 per Share under its Recommended Voluntary Public Cash Tender Offer for All Shares in Cramo Plc
14th Jan 20201:15 pmGNWDetermination of acquisition costs of Cramo Plc and Adapteo Plc shares for Finnish taxation purposes

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