The Board of Directors of Cramo Plc supplements its statement regarding the recommended voluntary public cash tender offer by Boels Topholding B.V. due to the increase in the Offer Price

Cramo Plc     Stock exchange release      17 January 2020 at 4.30 pm (EET)

The Board of Directors of Cramo Plc supplements its statement regarding the recommended voluntary public cash tender offer by Boels Topholding B.V. due to the increase in the Offer Price

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On 11 November 2019, Boels Topholding B.V. (the "Offeror" or "Boels") announced that it will make a recommended voluntary public cash tender offer to acquire all of the issued and outstanding shares in Cramo Plc ("Cramo") that are not held by Cramo or any of its subsidiaries (the "Shares") (the "Tender Offer").

The Board of Directors of Cramo (the "Cramo Board") has on 20 November 2019 issued a statement (the "Statement") regarding the Tender Offer as required by Chapter 11, Section 13, of the Finnish Securities Markets Act (746/2012, as amended). The Statement has been included in the tender offer document published on 22 November 2019 by the Offeror (the "Tender Offer Document"). Boels has today, 17 January 2020, decided to amend the terms and conditions of the Tender Offer by increasing the offer price of EUR 13.25 to EUR 13.75 in cash, cum dividend, for each share in Cramo validly tendered into the Tender Offer (the "Increased Offer Price").

As required by Chapter 11, Section 15, of the Finnish Securities Markets Act, the Cramo Board shall supplement its Statement after the amended terms and conditions of the Tender Offer have been delivered to the Cramo Board. The amended terms and conditions of the Tender Offer have been delivered to the Cramo Board today, 17 January 2020 and the Cramo Board has reviewed the amended terms and conditions and supplements its Statement by stating that the amendment of the terms and conditions of the Tender Offer concerning the increase in the offer price does not give cause for changing or withdrawing its previous recommendation. The Cramo Board has also taken into account in its evaluation the decision of the Offeror to extend the offer period of the Tender Offer until 31 January 2020 at 4:00 p.m. (Finnish time). The Cramo Board refers to the Statement and unanimously recommends that the shareholders of Cramo accept the Tender Offer.