Rapala VMC Corporation
Stock Exchange Release
March 25, 2021 at 3:30 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 100,000 of Rapala VMC Corporation's own shares, equaling to some 0.26 % 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. The shares will be acquired with company's free equity only, and therefore, the acquisition reduces the distributable funds. The maximum amount to be used for the acquisition is 700,000 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 April 1, 2021 at the earliest and will end on June 30, 2021 at the latest. At the moment, the total number of shares in the Company is 39,000,000 and Rapala holds 279,193 of its own shares.
RAPALA VMC CORPORATION
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 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.