Arbitrator appointed for the arbitration proceedings concerning the redemption of minority shares in Cramo Plc

6 Apr 2020 15:00

Arbitrator appointed for the arbitration proceedings concerning the redemption of minority shares in Cramo Plc

Cramo Plc Stock Exchange Release 6 April, 2020 at 5.00 pm EET

Arbitrator appointed for the arbitration proceedings concerning the redemption of minority shares in Cramo Plc

According to information received from Boels Topholding B.V. ("Boels"), the Redemption Board of the Finland Chamber of Commerce has appointed an arbitral tribunal consisting of a sole arbitrator for the redemption proceedings concerning the redemption of the outstanding shares in Cramo Plc's ("Cramo") not held by Boels. The arbitral tribunal comprises Doctor of Laws Pekka Timonen.

As announced earlier, Boels has on February 14, 2020 commenced redemption proceedings in respect of Cramo's minority shares in accordance with Chapter 18 of the Finnish Companies Act in order to obtain ownership of all the issued and outstanding shares in Cramo. As also announced earlier, the District Court of Itä-Uusimaa has with its decision given on March 5, 2020 appointed Professor Kari Hoppu to act as trustee in the redemption proceedings.

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.

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