Rapala VMC Corporation
Stock Exchange Release
August 13, 2021 at 5:00 p.m.
RAPALA VMC CORPORATION ("RAPALA VMC") AND OKUMA FISHING TACKLE CO LTD ("OKUMA") STRENGHTEN STRATEGIC CO-OPERATION. THE BOARD OF DIRECTORS OF RAPALA VMC HAS RESOLVED ON A DIRECTED ISSUE OF 315 000 TREASURY SHARES TO OKUMA
Rapala VMC announced on January 27, 2021 the acquisition of Okuma European and Russian trademarks and associated intangible assets against a consideration of USD 8 million out of which an amount of USD 4 million was a deferred payment.
As part of the deferred payment the Board of Directors of Rapala VMC has today resolved on a directed issue of 315 000 treasury shares to Okuma, based on an authorization granted by the Rapala VMC's Annual General Meeting held on March 25, 2021. These shares form a significant portion of the consideration paid by Rapala VMC to Okuma for the purposes of strengthening strategic co-operation between the parties, and Rapala VMC therefore has a weighty financial reason for deviating from the shareholders' pre-emptive subscription right.
The subscription price for the shares is EUR 9.90 per share, which was determined on the basis of the volume weighted average price of Rapala VMC's shares on Nasdaq Helsinki Ltd during the period of August 2, 2021 to August 6, 2021. The subscription price will be recorded in the Rapala VMC's reserve for invested unrestricted equity.
After the transfer of 315 000 treasury shares to Okuma Rapala VMC holds 50 236 treasury shares.
RAPALA VMC CORPORATION
Nicolas Warchalowski
Chief Executive Officer
For further information, please contact:
Olli Aho, General Counsel, +358 9 7562 540
Distribution: Nasdaq Helsinki and main media
About Rapala VMC Corporation
Rapala group is the world's leading fishing tackle company and the global market leader in fishing lures, treble hooks and fishing related knives and tools. Group has a strong global position also in other fishing categories and Rapala's distribution network is largest in the fishing industry. The main manufacturing facilities are in Finland, France, Estonia, Russia, Indonesia and the UK. Rapala group's brand portfolio includes the leading brand in the industry, Rapala, and other global brands like VMC, Sufix, Storm, Blue Fox, Luhr Jensen, Williamson, Dynamite Baits, Mora Ice, StrikeMaster, Marttiini, Peltonen and 13 Fishing outside of the USA as well as Okuma in Europe and Russia. Group, with net sales of EUR 261 million in 2020, employs some 2 100 people in 42 countries. Rapala VMC Corporation's share is listed and traded on the Nasdaq Helsinki stock exchange since 1998.
Attachment
- Rapala VMC Corporation, Stock Exchange Release, August 13, 2021 (https://ml-eu.globenewswire.com/Resource/Download/ff65c67b-b6f1-4fdd-af8e-0df3acb10294)
