Stock Exchange Release
December 10, 2019 at 9:00 EEST
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG, OR IN ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.
Ramirent Plc Applies for Delisting of Its Shares from Nasdaq Helsinki
Ramirent Plc's (“Ramirent”) Board of Directors has decided to apply for the termination of public trading in Ramirent shares and for the delisting of Ramirent's shares from the official list of Nasdaq Helsinki Ltd (“Nasdaq Helsinki”).
Loxam S.A.S (“Loxam”) owns more than nine tenths (9/10) of all the shares and votes in Ramirent and has initiated redemption proceedings in accordance with Chapter 18 of the Finnish Companies Act in order to redeem the remaining Ramirent shares held by the minority shareholders.
Provided that the Arbitral Tribunal appointed for the redemption proceedings confirms that Loxam’s redemption right is clear, Loxam is entitled to gain title to all Ramirent's shares against the placing of security approved by the Arbitral Tribunal for the payment of the redemption price.
Today, Ramirent will submit a delisting application to Nasdaq Helsinki. In the application Ramirent requests that the quotation of Ramirent's shares on the official list of Nasdaq Helsinki be terminated as soon as possible after Loxam has gained title to all the shares in Ramirent in the redemption proceedings.
Jukka Havia, EVP and CFO
Ramirent Plc, Tel. +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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