(Source: Cardno Limited) Cardno Limited (Cardno) confirms today that its major shareholder, Crescent Capital and its associates (Crescent), has increased its shareholding from 19.67% to 40.9% as a result of its Proportional Takeover Offer (Offer) for one of every two Cardno shares held. As previously announced, on 19 October 2015 Cardno and Crescent entered into an implementation agreement (Agreement) that included an agreed transition plan in relation to the future composition of the board in the event that Crescent and its associates obtained voting power of at least 30%. The Agreement reflected the assessment of Cardno's current Board that the interests of shareholders were best...
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