Rapala VMC Corporation
Stock Exchange Release
March 1, 2022 at 4:30 p.m.
RAPALA VMC CORPORATION INITIATES BUY BACK OF OWN SHARES
The Board of Directors of Rapala VMC Corporation has decided to start buying back a maximum of 250.000 of Rapala VMC Corporation's own shares, equaling to some 0.64% of all shares, in accordance with the authorization granted by the Annual General Meeting on March 25, 2021. Based on the authorization granted by the Annual General Meeting on March 25, 2021, the maximum amount of shares that can be bought back is 2.000.000 shares. Rapala VMC Corporation has already bought back 86.043 shares based on this authorization during April-May 2021. The shares will be acquired with company's distributable equity, and therefore, the acquisition reduces the distributable funds. The maximum amount to be used for the acquisition is 1.750.000 euros.
Shares will be acquired in public trading on the Nasdaq Helsinki at the market price quoted at the time of repurchase in accordance with the rules regarding the acquisition of company's owns shares.
The purpose of the share repurchase program is to develop the Company's capital structure and/or to use the shares as consideration in potential acquisitions or other business arrangements, as part of the Company's renumeration or share-based incentive plan or otherwise for further transfer, retention or cancellation.
The repurchasing of shares starts on March 3, 2022 at the earliest and will end on March 22, 2022 at the latest. At the moment, the total number of shares in the Company is 39.000.000 and the Company holds 50.236 of its own shares.
Helsinki, 1 March 2022
RAPALA VMC CORPORATION
Nicolas Cederström Warchalowski
President and Chief Executive Officer
For further information:
Olli Aho, Investor Relations, tel. +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 294 million in 2021, employs some 1 800 people in approximately 40 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, March 1, 2022 (https://ml-eu.globenewswire.com/Resource/Download/1b597ee8-c15c-4b67-91ea-9feb37329be4)
