Stock Exchange Release
December 20, 2019 at 5.30 p.m. (EET)
Arbitral Tribunal Has Confirmed Loxam S.A.S.’s Redemption Right Regarding Ramirent Plc Shares, Loxam S.A.S. Has Gained Title to All Shares in Ramirent Plc and the Shares Will Be Delisted from Nasdaq Helsinki
The Arbitral Tribunal appointed by the Redemption Committee of the Finland Chamber of Commerce has today confirmed that Loxam S.A.S. (“Loxam”) has the right to redeem the minority shares in Ramirent Plc (“Ramirent”) and that Loxam has the right to obtain title to the minority shares by placing the security approved by the Arbitral Tribunal for the payment of the redemption price and the interest accruing thereon.
Ramirent has on December 10, 2019 submitted a delisting application to Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) concerning its shares. Ramirent has requested in the application that the quotation of its shares on the official list of Nasdaq Helsinki be terminated as soon as possible upon Loxam having gained title to all the shares in Ramirent in the redemption proceedings.
Pursuant to the confirmation of Loxam's redemption right, Nasdaq Helsinki has terminated public trading in Ramirent's shares today at 3.40 p.m.
In addition, Loxam has today placed the security approved by the Arbitral Tribunal and thus gained title to all the shares in Ramirent in accordance with Chapter 18, Section 6 of the Finnish Companies Act. After the security has been placed and the title to the shares transferred, the minority shareholders of Ramirent being parties to the redemption proceedings are entitled to receive only the redemption price and the interest payable thereon.
Upon application by Ramirent, Nasdaq Helsinki has on December 17, 2019 decided that Ramirent shares will be delisted from the Official list of Nasdaq Helsinki after Loxam has gained title to all the shares in Ramirent in the redemption proceedings in accordance with the Finnish Companies Act. The quoting of the Ramirent shares on Nasdaq Helsinki ceases today in accordance with a separate release published by Nasdaq Helsinki.
CFO, Ramirent Plc
+358 50 355 3757
Ramirent is a leading service company offering equipment rental for construction and other industries. Our mission is to help our customers gear up on safety and efficiency by delivering great equipment and smooth service with a smile. We have around 3,200 co-workers and 300 customer centers across nine countries in Northern and Eastern Europe. In 2018, Ramirent Group sales reached a total of EUR 712 million. Ramirent is listed on Nasdaq Helsinki Ltd (RAMI). Loxam S.A.S. has acquired more than 90 percent of all the Ramirent shares and will delist the company from Nasdaq Helsinki Ltd. as soon as permitted under applicable laws.
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