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Latvija On 18 February 2019, the Board of Directors of Cramo Plc (“Cramo”) approved a demerger plan, which was registered with the Finnish Trade Register the same day. Pursuant to the demerger plan, Cramo will demerge in a partial demerger so that all the assets, debts and liabilities belonging to Cramo’s Modular Space business are transferred without a liquidation procedure to Adapteo Plc (“Adapteo”), a company to be incorporated in the demerger, as set forth in more detail in the demerger plan.
The purpose of the demerger is to execute the divestment of Cramo’s Modular Space business, which mainly consists of modular space rental and rental-related service operations, so that it will form a new independent group of companies, while the Equipment Rental business, which mainly consists of construction machinery and equipment rentals and rental-related services, will remain in Cramo.
The Board of Directors of Cramo proposes that the Extraordinary General Meeting of Shareholders on 17 June 2019 approves the demerger plan and resolves on the partial demerger of Cramo in accordance with the demerger plan.