Cramo Applies for Delisting of its Shares from Nasdaq Helsinki

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.
May 13, 2020

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.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.

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