Vantaa, Finland, 2015-03-30 09:20 CEST (GLOBE NEWSWIRE) -- Cramo Plc Stock Exchange Release 30 March 2015, at 10.20 am Finnish time (EET)
Changes to the Nomination and Remuneration Committee's proposal to Cramo's Annual General Meeting of Shareholders
Reference is made to the notice to convene Cramo Plc's Annual General Meeting of Shareholders, dated 10 February 2015, pursuant to which the Nomination and Compensation Committee has proposed that, in accordance with their consents, the following current members of the Board be re-elected: Helene Biström, Leif Boström, Eino Halonen, Victor Hartwall, Raimo Seppänen, Erkki Stenberg and Caroline Sundewall and that Michael Rosenlew be elected as a new Board member, all to serve for a term ending at the end of the next Annual General Meeting.
On 27 March 2015, Victor Hartwall and Michael Rosenlew have each notified the Nomination and Compensation Committee of the withdrawal of their respective consents to be elected to the Board at the Annual General Meeting of Shareholders.
The Nomination and Compensation Committee immediately commenced the search for new candidates to replace the persons who had withdrawn their consents to be elected. Based on recommendations received from shareholders, the Nomination and Compensation Committee has identified and interviewed Joakim Rubin and Peter Nilsson as possible candidates.
Joakim Rubin (born 1960) is Founding Partner of Zeres Capital and Senior Partner at CapMan Group. Before joining CapMan in 2008 he held several positions at Handelsbanken Capital Markets between 1995 and 2008 including Head of Corporate Finance and Debt Capital Markets. Joakim Rubin is currently a member of the board of directors of ÅF AB (since 2012), B&B Tools AB (since 2011) and Intrum Justitia AB (since 2010) and has previously served on the board of directors of Nobia AB and Sanitec Corporation. He holds a Master of Science (Industrial Engineering and Management) degree from the Linköping Institute of Technology.
Peter Nilsson (born 1962) served as the CEO and President of Sanitec Corporation during 2010–2015. He has previously served as the CEO at Duni AB and upheld various Senior Management positions at Swedish Match Group. Peter Nilsson is currently a member of the board of directors at Team Tråd & Galler AB (since 2005). Previously, he has served as the Chairman of the board of directors of Sanitec Corporation from 2008 until 2010 and Securitas Direct AB from 2008 until 2011. He has studied at the Stockholm School of Economics.
As disclosed by Cramo Plc on 30 March 2015, Hartwall Capital Oy Ab and Zeres Capital AB have on 27 March 2015 notified Cramo Plc of changes in major holdings. Pursuant to the notifications, Hartwall Capital Oy Ab has sold 4,691,702 shares in Cramo Plc to Zeres Capital AB. Pursuant to the notifications, the sale and purchase of such shares is conditional on (i) that Harwall Capital Oy Ab provides Zeres Capital AB with a power of attorney enabling Zeres Capital AB to vote with such shares at the Annual General Meeting of Cramo Plc to be held on 31 March 2015 and (ii) that the Nomination and Compensation Committee publicly revises its proposal to the Annual General Meeting regarding the Board so that two persons proposed by the Nomination and Compensation Committee shall be replaced with two persons in a way satisfactory to Zeres Capital AB. Assuming that the sale and purchase is completed, Joakim Rubin will be independent of Cramo Plc but not independent of major shareholders and Peter Nilsson will be independent of Cramo Plc and of major shareholders.
Having convened on 29 March 2015, the Nomination and Compensation Committee has decided to revise its proposal to the Annual General Meeting of Shareholders as follows. The Nomination and Compensation Committee unanimously proposes that, in accordance with their consents, the following current members of the Board be re-elected: Helene Biström, Leif Boström, Eino Halonen, Raimo Seppänen, Erkki Stenberg and Caroline Sundewall and that Joakim Rubin and Peter Nilsson be elected as new Board members, all to serve for a term ending at the end of the next Annual General Meeting.
CRAMO PLC
Vesa Koivula
President and CEO
Further information:
Helene Biström, Chairman of Nomination and Compensation Committee, tel: +46 70 212 66 31
Distribution:
NASDAQ OMX Helsinki Ltd.
Major media
www.cramo.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 fifteen countries with 330 depots. With a group staff around 2.500, Cramo's consolidated sales in 2014 was EUR 652 million. Cramo shares are listed on the NASDAQ OMX Helsinki Ltd.