Cramo’s Shareholders’ Nomination Committee will not make proposals to the Annual General Meeting

12 Feb 2020 07:15

Cramo’s Shareholders’ Nomination Committee will not make proposals to the Annual General Meeting

Cramo Plc Stock Exchange Release 12 February 2020 at 9.15 am EET

Cramo’s Shareholders’ Nomination Committee will not make proposals to the Annual General Meeting

Boels Topholding B.V. ("Boels"), the majority shareholder in Cramo Plc ("Cramo") who has made a voluntary recommended public cash tender offer to purchase all of the issued and outstanding shares of Cramo that are not owned by Cramo or any of its subsidiaries, has requested the Board of Directors of Cramo to convene an extraordinary general meeting of shareholders to resolve on certain amendments of the Articles of Association, the number of the members of the Board of Directors and changes to the composition of the Board of Directors, the remuneration of the members of the Board of Directors and the disbandment of the Shareholders’ Nomination Committee.

The Board of Directors of Cramo has resolved to convene an Extraordinary General Meeting to be held on 10 March 2020. In addition, the Board of Directors of Cramo has resolved on postponing the Annual General Meeting of Cramo to be convened on a date announced in the future. Consequently, the Annual General Meeting of Cramo will not convene on Thursday 26 March 2020. The new Board of Directors to be elected in the Extraordinary General Meeting convened by the Board of Directors of Cramo, will later resolve on a new date for the Annual General Meeting. The Annual General Meeting shall convene no later than on 30 June 2020.

The Shareholders’ Nomination Committee has today decided not to make any proposals to the Annual General Meeting of Cramo.

The composition of Cramo Plc’s Shareholders’ Nomination Committee as from 28 November 2019 is the following:

Fredrik Åtting, nominated by EQT Fund Management S.à r.lAri Autio, nominated by Rakennusmestarien SäätiöAnnika Ekman, nominated by Ilmarinen Mutual Pension Insurance CompanyVeli-Matti Reinikkala, Chairman of the Board, Cramo Plc

Fredrik Åtting acts as the chairman of the Nomination Committee.

Further information:

Jaakko Liljeroos General Counsel, Cramo Plc M: +358 40 162 2331 E: jaakko.liljeroos@cramo.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.