Partial demerger was completed on 30 June 2019
The Extraordinary General Meeting of Cramo Plc (Cramo) decided on 17 June 2019, that Cramo will demerge through a partial demerger so that all the assets, debts and liabilities belonging to Cramo’s Modular Space business were transferred without a liquidation procedure to Adapteo Plc, a company incorporated in the demerger. Cramo’s Equipment Rental business, which mainly consists of construction machinery and equipment rentals and rental-related services, remains in Cramo. Upon the completion of the demerger, Cramo’s shareholders received as demerger consideration one (1) Adapteo share for each Cramo share that they held.
The completion of the demerger was registered with the Finnish Trade Register and took effect on 30 June 2019. Trading in Adapteo shares on Nasdaq Stockholm started on 1 July 2019.
Cramo’s new strategy and financial targets for the Equipment Rental business were presented at the Capital Markets Day, which was held in Stockholm on 12 September 2019. Read more here.