Cramo Oyj - Company Announcement

Changes to the Nomination and Remuneration Committee's proposal to Cramo's Annual General Meeting of Shareholders

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new candidates to replace the persons who had withdrawn their consents to be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.