Cramo Plc's board of directors has decided to apply for the termination of public trading in Cramo shares and for the delisting of Cramo's shares from the official list of Nasdaq Helsinki Ltd.
Boels Topholding B.V. now owns more than 90 percent of all the shares and votes in Cramo and has initiated redemption proceedings to redeem the remaining Cramo shares held by the minority shareholders.
Provided that the Arbitral Tribunal appointed for the redemption proceedings confirms that Boels' redemption right is clear, Boels is entitled to gain title to all Cramo's shares against the placing of a security approved by the Arbitral Tribunal for the payment of the redemption price.
Cramo has submitted a delisting application to Nasdaq Helsinki. In the application Cramo requests that the quotation of Cramo's shares on the official list of Nasdaq Helsinki be terminated as soon as possible after Boels has gained title to all the shares in Cramo in the redemption proceedings.
Netherlands-based rental company Boels agreed to acquire Finland-based Cramo in November 2019. The transaction was finalized in February of this year.
