RAPALA VMC CORPORATION COMPLETES BUY BACK OF OWN SHARES
Rapala VMC Corporation
Stock Exchange Release
May 10, 2021 at 6:45 p.m.
RAPALA VMC CORPORATION COMPLETES BUY BACK OF OWN SHARES
As communicated on the 25th of March 2021, The Board of Directors of Rapala VMC Corporation decided to start buying back a maximum of 100 000 of Rapala VMC Corporation's own shares, with a maximum of 700 000 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 1st of April 2021 and ended on the 10th of May 2021. During this period, Rapala VMC Corporation repurchased 86 043 shares for an average price of EUR 8.1354 per share. Number of shares correspond to approximately 0.22 % 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 365 236 own shares.
RAPALA VMC CORPORATION
Nicolas 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 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