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STOCK EXCHANGE RELEASE                                    25 March 2019 at 2 p.m. EET

Cramo Plc announces positive results from the Noteholders’ Meeting for its senior unsecured notes

The meeting of the holders of Cramo Plc’s EUR 150,000,000 2.375 per cent senior unsecured notes due 2022 (ISIN FI4000232509) (the "Notes") was held on 22 March 2019.

The holders of the Notes resolved to approve the proposals relating to granting consents and waivers (the “Consents and Waivers”) and took decisions to amend the terms and conditions of the Notes (the “Amendments”).

The Consents and Waivers became effective immediately upon approval at the meeting, and the Amendments will become effective at the completion of the partial demerger (the “Effective Date”) of Cramo Plc as announced on 18 February 2019 whereby all assets and liabilities belonging to the modular space business of Cramo Plc shall be transferred without a liquidation procedure to Adapteo Plc, a company to be incorporated in the demerger. Cramo Plc will issue a stock exchange release when the Effective Date has occurred. The Effective Date is expected to take place on or about 1 July 2019. In the event the Effective Date does not occur by 31 October 2019 any and all Consents, Waivers and Amendments shall lapse.

The payment of the instruction fees payable in connection with the consent solicitation process will occur no later than five (5) business days following the occurrence of the Effective Date.

Simultaneously upon receiving approval of the proposals at the meeting, Cramo Plc’s previously obtained financing commitments for a EUR 150 million back-up facility for the Notes were cancelled.

Cramo Plc

Further information:
Mr Aku Rumpunen, CFO, tel: +358 40 556 3546, email: aku.rumpunen@cramo.com
Mr Pekka Huotari, Group Treasurer, tel: +358 40 846 2794, email: pekka.huotari@cramo.com

Distribution:
Nasdaq Helsinki Ltd.
Main media
www.cramogroup.com

Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in about 300 depots in 13 countries. With a group staff around 2,700, Cramo's consolidated sales in 2018 were EUR 780 million. Cramo shares (CRA1V) are listed on Nasdaq Helsinki Ltd.
Cramo Adapteo is the sub-brand for Cramo’s modular space operations. 

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