Rapala VMC Corporation
Stock Exchange Release
March 22, 2022 at 7:00 p.m.
RAPALA VMC CORPORATION COMPLETES BUY BACK OF OWN SHARES
As communicated on the 1st of March 2022, The Board of Directors of Rapala VMC Corporation decided to start buying back a maximum of 250.000 of Rapala VMC Corporation's own shares, with a maximum of 1.750.000 EUR, in accordance with the authorization granted by the Annual General Meeting on March 25, 2021.
The buy back of own shares started on the 3rd of March 2022 and ended on the 22nd of March 2022. During this period, Rapala VMC Corporation repurchased 73.655 shares for an average price of EUR 6.5995 per share. Number of shares correspond to approximately 0.19% of the total number of the Company's shares which is 39.000.000 shares.
Shares were repurchased 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 remuneration or share-based incentive plan or otherwise for further transfer, retention or cancellation.
The shares were repurchased through public trading on Nasdaq Helsinki at the market price prevailing at the time of repurchase. Following the repurchases, the Company holds a total of 123.891 own shares.
Helsinki, 22 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, 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 22, 2022 (https://ml-eu.globenewswire.com/Resource/Download/16e877ba-abb5-4f95-99cd-4d055498fd32)
