SOURCE: Algeco Scotsman

Algeco Scotsman

November 16, 2017 15:09 ET

Statement Regarding Complaint Filed on Behalf of Senior Unsecured Noteholders

This announcement is for informational purposes only, and is not intended to, and does not, constitute or form part of any offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for, any securities of the Algeco Group (as defined below). This announcement is not for distribution or release in or into any jurisdiction in which offers or sales would be prohibited by applicable law.

BALTIMORE, MD--(Marketwired - Nov 16, 2017) - Algeco/Scotsman Holding S.à r.l. ("AS Holding" and together with its subsidiaries, the "Algeco Group"), has received notice that a complaint was filed on November 15, 2017 against certain members of the Algeco Group and certain of its affiliates and related individuals, purportedly on behalf of the holders of the Algeco Group's 10.75% Senior Unsecured Notes due 2019. The complaint, which was filed in the Supreme Court of the State of New York, asserts claims primarily related to the Algeco Group's previously-announced decision to sell its North American modular space and portable storage operations to Williams Scotsman Holdings Corp., a newly-formed subsidiary of Double Eagle Acquisition Corp., a publicly traded special purpose acquisition company. The Algeco Group disputes each of the claims asserted in the complaint, and believes they are without merit. The Algeco Group will vigorously defend the lawsuit.

Cautionary Notice Regarding Forward Looking Statements

This press release includes forward-looking statements within the meaning of the securities laws of certain applicable jurisdictions, which reflect the Algeco Group's expectations regarding its future operational and financial performance. By their nature, the forward-looking events described in this press release may not be accurate or occur at all. Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date on which the statements were made. Although any forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements. A number of factors could cause actual results, performance or achievements to differ materially from the results expressed or implied in any forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on any forward-looking statements. Except as required by law, we undertakes no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Algeco Scotsman

Algeco Scotsman is the leading global business services provider focused on modular space, secure portable storage solutions, and remote workforce accommodation management. Headquartered in Baltimore, Algeco Scotsman has operations in 25 countries with a modular fleet of approximately 276,000 units. The company operates as Williams Scotsman and Target Logistics in North America, Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

Contact Information

  • Investor Relations Contact:
    Scott Shaughnessy
    Vice President, Finance
    Algeco Scotsman
    410-933-5921
    Email Contact